NEW YORK — The NY law firm of Paul, Weiss, Rifkind, Wharton & Garrison LLP, has signed a 20-year, 765,000 square-foot lease at 1345 Avenue of the Americas (photo above), marking the largest commercial office lease in the United States in 2023. Paul, Weiss represents many of the world’s largest public and private corporations, asset managers and financial institutions. The firm plans to initially occupy 18 floors within the Midtown office tower which is owned by Fisher Brothers, a fourth-generation real estate company that owns, manages and operates unique spaces across the country, and institutional investors advised by J.P. Morgan Global Alternatives.
“New York City continues to be an unparalleled place to do business, and we’re thrilled to support Paul, Weiss’ growth,” said Winston Fisher, partner at Fisher Brothers. “We are committed to creating and maintaining innovative spaces that enable industry leaders to thrive. As we look ahead to a new year, this lease underscores an important global institution’s commitment to having an in-person footprint in New York City.”
“Employee experience is at the forefront of tenants’ priorities, and we can’t wait to welcome Paul, Weiss to enjoy the unparalleled, world-class work environment we’ve curated for our tenants at 1345 Avenue of the Americas,” said Ken Fisher, partner at Fisher Brothers. “The firm’s notable growth and relocation shows how important modern amenities, public art, meeting spaces and state-of-the-art infrastructure are for today’s top businesses. We’ve invested tremendously in these elements at 1345 Avenue of the Americas and are so excited to see the largest commercial lease in the country come from our commitment to offering best-in-class experiences.”
“With its high-tech features, thoughtful meeting spaces and artistic elements, 1345 Avenue of the Americas is the ideal location not only to accommodate our needs as we continue our path of global growth, but also to complement our firm culture of excellence in client service, collaboration and innovation,” said Brad S. Karp, chairman of Paul, Weiss. “We are excited about our move to a spectacular new space that will elevate the daily experience for our clients and community.”
Recently, Fisher Brothers and J.P. Morgan completed a $120 million large-scale capital improvement project at 1345 Avenue of the Americas, which included upgrades to the building’s exterior, an artfully designed lobby with upgraded touchless elevators, and a new amenity floor, @Ease 1345, featuring 5,500 square feet of flexible meeting space, event capacity of up to 440 guests, tenant lounge, wellness center, New York City’s largest indoor terrarium and hybrid meeting spaces. Ease Hospitality offers the latest, modernized technology to host engaging meetings and experiences. A second Ease Hospitality location opened at Fisher Brothers’ 605 Third Avenue last year.
As part of the capital improvement plan, last year, Fisher Brothers unveiled a large-scale experiential art installation at 1345 Avenue of the Americas. The piece is a vibrant painted mural entitled “Falcon Dreaming,” located within the redesigned Fisher Park adjacent to the commercial office tower and the Ziegfeld Ballroom. The 56-foot by 23-foot mural integrates an augmented reality experience. Additional upgrades to Fisher Park include public Wi-Fi, over 100ft of bench seating to work, collaborate and meet around new raised planters, tables and chairs throughout the plaza, new granite pavers, steps and lighting.
