L&L Holding Inks Lease Extension, Expansion at Manhattan Tower

600 Third Ave. Image courtesy of L&L Holding Co.

Law firm Polsinelli has extended and expanded its lease at L&L Holding Co.’s 600 Third Ave. in New York City.

The firm signed a 10-year lease extension through 2036 at the 42-story skyscraper in Manhattan’s Midtown East neighborhood, while also expanding its footprint with the addition of 13,129 square feet on the 33rd floor.

Polsinelli’s square footage at the property now totals 52,516 square feet, comprising the entirety of the 33rd, 40th, 41st and 42nd floors.

The 575,254-square-foot office tower, which was built in 1970, was acquired by L&L in 2004. The company owns the building in partnership with BlackRock Real Estate Assets.

L&L Executive Vice President David Berkey represented the firm in-house on the lease renewal, while Kevin McLennan, Ian Murphy and Silvio Petriello of CBRE represented Polsinelli.

A series of renovations at the property in recent years has included building system improvements, upgrades to the lobby and improved public spaces. In 2018, following the improvements, L&L and BlackRock secured a $175 million financing from Capital One that went toward paying down debt.

The law firm is the largest tenant at the building, which is 94 percent leased. Aside from Polsinelli, which has been at the location since 2015, occupants include law firm Aaronson Rappaport, Austria’s permanent mission to the United Nations, and investment manager 3G Capital.

L&L, which is an active player in the New York real estate world, also own 425 Park Ave. and 390 Madison Ave.