Kramer Levin Naftalis & Frankel has renewed it lease at Americas Tower in New York City. The law firm signed a 15-year lease on 265,000 sq ft, approximately 50,000 sq ft less than its previous lease. The tower, also known as 1177 Avenue of the Americas, is currently 95 percent leased to tenants like Bank Hapoalim and the Practicing Law Institute. Silverstein Properties and the California State Teachersā Retirement System bought the asset in 2007 for about $1bn. āBusinesses can be very healthy and vibrant and theyāre still taking 10 percent less space to accommodate the same number of employees,ā said Moshe Sukenik of Newmark Grubb Knight Frank, which represented Kramer Levin during negotiations.
