May 2, 2011

Commercial Observer: Law Firm Plants NYC Flag at 120 Broadway

In an encouraging sign that New York City’s economic engine continues to purr, the Chicago-based law firm Foran Glennon Palandech Ponzi & Rudloff has expanded its legal practice to New York, brokers told The Commercial Observer.

The firm, which boasts civil defense and international litigation practices, inked a 9,345-square-foot headquarters deal valued at $38 per square foot at the landmarked 120 Broadway, adding to its roster of offices already operating in Chicago, Newport Beach and Emeryville, Calif. The introduction to the city indicates that the firm has confidence in New York’s real estate market. And that it chose the Silverstein Properties-owned Equity Building for its base—as opposed to somewhere along Park Avenue’s row of white-shoe firms—also shows a dollop of panache.

“The Financial District is similar to Chicago’s Loop, physically and sociologically,” said Coldwell Banker Commercial Hunter Realty principal Peter Sabesan, who arranged the lease for the firm alongside colleague Wayne Siegel. “Between the comparisons of each city’s grand office buildings and the dynamism of their respective workforces, these lawyers are going to feel right at home from day one.”


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