LEGAL CORNER: NYC Passes the FARE Act and Restricts the Payment of Commissions by Tenants
The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
PURCHASE—Three new lease deals have been signed at the RiverView at Purchase office building here, including a 13,000-square-foot transaction with the law firm Marshall Dennehey Warner Coleman & Goggin, P.C.
The law firm, which is headquartered in Philadelphia, signed a seven year-lease deal with building owner Phoenix Capital Partrers, LLC, according to CBRE, which represented the landlord in the transaction, as well as two other leases signed at the 120,000-square-foot building. The firm will be relocating from space it currently leases at 800 Westchester Ave. in Rye Brook to the property located at 287 Bowman Ave.
Marshall Dennehey Warner Coleman & Goggin will occupy space on the top floor of the four-story building. In New York State, the law firm also has locations in Manhattan and Melville (Long Island).
CBRE also announced two other lease deals at the property—BlueWhite Legal Capital LLC, a privately held litigation funding provider, has leased 4,500 square feet on the second floor of the building while Sappi North America, Inc., a sustainable wood pulp products and solutions distributor, has leased 2,500 square feet on the second floor.
CBRE’s William V. Cuddy, Jr. and Jacqueline Novotny arranged the leases on behalf of the landlord.
“RiverView at Purchase is an exceptional Class A office property fused with a boutique hospitality approach that has proven to resonate strongly with tenants, as demonstrated in the building’s steady leasing activity,” said Novotny. “Tenants appreciate RiverView’s uniquely-curated concierge services and the hands-on approach from ownership.”
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