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“Homebuying momentum is building after nearly two years of suppressed home sales,” said NAR Chief Economist Lawrence Yun.
PURCHASE—The law firm Milber Makris Plousadis & Seiden, LLP has signed a long-term direct lease deal totaling 25,000 square feet at 100 Manhattanville Road here.
The law firm will relocate its Westchester office to the property owned by RPW Group from subleased space in White Plains.
Commercial brokerage firm Newmark Knight Frank handled the full transaction with Executive Managing Director Patricia Valenti representing the tenant and Senior Managing Director Lawrence Ruggieri representing the landlord, RPW Group, Inc.
Milber Makris Plousadis & Seiden’s current Westchester office is located at 709 Westchester Ave. in White Plains where it subleases approximately 30,000 square feet of space. The law firm, which was founded in 1998, also has office locations in Woodbury, NY; Jersey City, NJ; Newtown, CT; Boca Raton FL, Miami and Berwyn, PA.
Milber Makris Plousadis & Seiden, LLP specializes in representing insurance companies and their insured clients. The firm’s new and expanded office space will be located on the fourth floor offering its staff great views and an abundance of natural light. The firm’s anticipated move-in date is March 2021.
Mark Seiden, a founding partner of MMP&S, said of the firm’s lease deal in Purchase, “Our attorneys and staff overwhelmingly want to return to an office setting where they can benefit from collaboration and mentorship—fundamental to the MMP&S culture. Our new Westchester office will accommodate both employee growth and space configurations for safe and effective collaboration. Together with NKF, we developed solutions that will keep employees happy, healthy and productive—which, of course, benefit the firm and our clients.”
NKF’s Valenti noted that the deal was able to be consummated in spite of the challenges posed by the COVID pandemic. “The pandemic has certainly taught us how to become more agile in the ways we work and communicate on behalf of our clients,” said Valenti. “In this climate, while we were unable to schedule traditional in-person space planning and architectural meetings, we were highly successful in designing the space virtually, and RPW’s style of developing personal relationships was even more effective by Zoom. The close connections that we established during the early months of the pandemic solidified the firm’s decision to relocate and grow into the new space.”
100 Manhattanville Road is a 290,631-square-foot Class-A office building. The recently upgraded four-story building sits on 23.8 acres of landscaped and wooded land and features a full-service cafeteria, a fitness center, a 24/7 concierge desk, and back-up power for all tenant space. The property’s other major tenants include MasterCard’s U.S. corporate headquarters and Triton International.
“Homebuying momentum is building after nearly two years of suppressed home sales,” said NAR Chief Economist Lawrence Yun.
Most of the counties in the HGAR market area are considered “high-cost areas” by the FHFA.
NAR officials noted yesterday that the court heard from all parties as well as objectors and the Department of Justice. Once arguments concluded, the court quickly ruled to grant final approval.
Outdoor space was especially important to movers to the Midwest, while movers to the Northeast were particularly driven by the need for more square footage and a better work commute.
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