L&L Holding Company convinced the legal beagles at Hogan Lovells to take 206,750 square feet of space at the overhauled 390 Madison Avenue.
The Washington D.C.-based law firm will move its entire staff to six floors at the 32-story Madison Avenue building when it’s completed in 2018, the New York Post reported. The space, on floors seven through 12, includes two of the tower’s eight terrace areas.
Hogan Lovells currently leases 110,000 square feet at 875 Third Avenue, also in Midtown East, and the lease is up next summer. The company had initially considered space at Hudson Yards.
Acting on behalf of owner the New York State Common Retirement Fund and Clarion Partners [TRDataCustom], L&L is redeveloping the mid-century Madison Avenue building, stripping it bare and creating a new facade. Designed by Kohn Pedersen Fox, the building will be 100 feet taller than its first iteration, but span the same 900,000 square feet, with multiple terraces and top-floor suites.
Asking rents for near the base were between $80 and $100 per square foot, according to a report by The Real Deal.
Cushman & Wakefield has been in talks to potentially anchor the building. The brokerage leases numerous properties throughout Manhattan and is reportedly looking to consolidate its headquarters. [NYP] — Chava Gourarie