Hogan Lovells Joins 390 Madison Tenant Roster
- Nov 10, 2016
By Keith Loria, Contributing Editor
New York—Hogan Lovells has signed a 206,720-square-foot lease at 390 Madison Ave., a Midtown office tower currently undergoing redevelopment in New York’s Grand Central area, with the building’s owner, L&L Holding Co.
The global law firm is the first tenant to sign a lease at the 850,000-square-foot, 32-story tower, which is being redeveloped by L&L Holding in conjunction with Clarion Partners LLC acting on behalf of the New York State Common Retirement Fund, and world renowned architects Kohn Pederson Fox Associates.
“The opportunity to effectively get new construction in the Grand Central, Midtown area is without precedent,” David Berkey, L&L Holding Co. executive vice president & director of leasing, told Commercial Property Executive. “There simply is nothing else. You have to go to Hudson Yards or the World Trade Center to find new construction.”
The redevelopment of the existing mid-century building will see large areas of the building moved around without the installation of additional columns, which will result in a new structure encompassing column-free spans, double and triple height spaces, eight major terraces, as well as state-of-the-art mechanicals and a translucent facade featuring floor-to-ceiling glass.
Hogan Lovells will relocate from its current offices at 875 Third Ave., once the building is completed in 2018. The lease, which extends until March 2033, encompasses floors 7-12 and will include two of the buildings’ eight major terrace areas, as well as a double- and triple-height floor.
“Whenever you do a new development, you get justification of your concepts and your process when you sign a lease, particularly a major lease like this,” Berkey said. “So many people are going to Hudson Yards and we are confident we can arrest that with this super exciting project steps from Midtown Manhattan.”
L&L Holding was recently honored by the American Institute of Architects New York City Chapter with a design award for the redevelopment of 390 Madison Ave.