Legal Suite In Formation - High Quality Fully Provisioned Office Space


SPACE DESCRIPTION

3 Groups Of Offices With Long Term Occupancy 

Gorgeous Recently Built "Big Law" Design

Group A:  5 rooms / 2 Associate / 2 Senior Associate / 1 Corner Sr. Partner - $16,800 per month

Group B:  4 rooms / 1 Corner Sr. Partner / 2 Jr. Partner / 1 Associate - $14,050 per month

Group C:  3 rooms / 3 Associate - $8,250 per month

Group D:  10 rooms / 1 Corner Sr. Partner / 2 Partner / 2 Sr. Associate / 5 Associate

Group E:  8 rooms / 1 Corner Sr. Partner / 7 Associate

Group F:  3 rooms / 3 Associate

Once in awhile you get to benefit from someone else's misfortune and this is a great example. 

A large firm built out a new space and furnished it beautifully and fully provisioned it with phones, IT and business machines.

Then, rather suddenly the merger with a NY firm they thought was complete - fell apart...and they decided that New York wasn't for them.  They departed, leaving behind a spectacular space with a little bad Karma.

This is a long term sublease of an 18,000 sq. ft. floor with a very high fenestration ratio and a high density of perimeter offices.

3 groups of rooms are available and 21 of the 33 offices on the floor have been reserved for a law firm and a small group of accountants.

Full disclosure:  I'm attempting to get non binding commitments from a group of firms looking for beautiful space who are willing to each share proportionately - in addition to the rental - the management and operation of the suite.  That means in addition to rent the cost of a receptionist/ manager, IT maintenance and electricity.  Each firm will use their own direct dial phone lines and be responsible for their own supplies.  Copiers can be used at their actual cost.

Further, each group must be willing to post a 4-month security deposit.

I work with small firms every day who yearn to occupy this kind of space while not being willing to pay an appropriate rent.

The space is so nice and completely ready for plug & play occupancy that I thought it would be worth trying to make a marriage of sorts between several like minded firms that have high expectations and good taste and are willing to pay a fair price for it.

History has taught me that marriages between firms with no prior relationship can be a tricky thing when sharing the responsibility of a lease - and because of that I'm not going to be able to guarantee that at the end of the journey I can assemble the group I need that can handle the commitment.  But I'm willing to spend the time to try even though success isn't guaranteed. 

Accordingly if you contact me about this project you have to understand that it is a bit speculative and you need to have other birds in hand.

While 3 firms have expressed an interest in particular offices they have done so with the understanding that their locations might have to be changed.  We have 21 available offices and can handle requirements that are larger than the 3 groups described above.

This will be a transparent enterprise where everyone gets the same level of occupier satisfaction and pays the same as other equivalent spaces in the suite.

The financial information for the entire enterprise will be summarized and certified twice annually.  This information will be available to each Tenant in the space.

Those of you that have known me during my brokerage career will accept this as an enterprise with a 50-50 chance of being launched.  But with that uncertainty comes the realization that together we might actually be able to pull this off!

You can reach me at (212) 986-9100 or by Email

Regards,

Neal Lerner

 

HIGHLIGHTS

FurnishedPhone system w/ voicemail
Wired For Data + PhonesHigh Speed Internet + WiFi
File Space Outside OfficesOutgoing Mail & Packages
Copy/Scan/Fax AvailablePostage Machine Available
Document Preparation AreaLexis Nexis
Part Time Secretary (Extra)Part Time Paralegal (Extra)
Attended LobbyRenovated Building
Class A BuildingNew Hallways
KitchenLunch room
City ViewsGreat Light

AVAILABLE OFFICES

6 Windowed Offices
Rent: $2750/mo each
Associate
4 Windowed Offices
Rent: $3500/mo each
Sr. Associate
2 Windowed Offices
Rent: $4300/mo each
Corner Partner

LISTING DETAILS

  • Space Type LEGAL
  • Profession Legal Suite
  • Listing For Attorneys & CPAs Only
  • Windowed Offices 12
  • Lease Type Sublease
  • Reception Services Full-Time
  • Conference Rooms Multiple
  • Total Suite Size 18,500
  • Commission No commission is being offered and this is not an employment of any broker.
  • Possession/Vacant June 2019
  • Term of Lease 9 Years
  • Last Updated 03/09/2019

CONTACT LOOKINGFORSPACE

437 Madison Avenue, New York, NY, 10022
437 Madison Avenue -
New York, NY 10022

437 Madison Avenue is located in the Grand Central area. The building was built in 1967 and has 40 stories. It is in a prime business location and has approximately 790,000 square feet. The building is close to all public transportation and is a short walk to Grand Central Station. It is also near several unique food venues.

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  • Cross StreetEast 49th St.
  • NeighborhoodAudubon
  • Stories 40
  • Total Area (s.f.)790,000
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