CRE Law Firm Adler & Stachenfeld Takes 40K SF at 1301 Avenue of the Americas
Commercial real estate law firm Adler & Stachenfeld (A&S) is relocating its New York City offices within Midtown.
The practice, which was founded in 1997 by Bruce Stachenfeld and Terri Adler, has signed a 40,000-square-foot lease on the entire 12th floor of 1301 Avenue of the Americas, now owned in a joint venture between Rithm Capital and DRA Advisors, the tenant announced Monday.
The asking rent, the length of the lease were unclear, but the average asking rent for Midtown office space was $85.08 per square foot in the third quarter of 2026, according to a report from Colliers.
A&S is currently at 555 Madison Avenue. It’s unclear when the firm will make the move to Avenue of the Americas.
“Our attorneys work every day on sophisticated real estate transactions, and our new physical space matches the caliber of our clients and the deals we facilitate,” Adler said in a statement. “A&S has built a stellar reputation as a premier real estate law firm by combining deep industry knowledge with a forward-looking approach to the issues shaping commercial real estate.”
Andrew Sussman and David Hollander at CBRE negotiated on behalf of the tenant while it is unclear who represented the landlord.
CBRE, Rithm and DRA did not immediately respond to requests for comment.
A&S specializes in New York City tax incentives, Local Law 97, C-PACE and ground lease financing, handling “billions” in real estate transactions every year, according to the firm.
The owners just made it public that DRA acquired a 49 percent stake in the 45-story office tower on Sunday, with Commercial Observer being first to report the deal and the property being valued at around $1.3 billion.
Other tenants in the building at the corner of Avenue of the Americas and West 53rd Street include banks KeyBank, Piper Sandler and Crédit Agricole, as well as law firm O’Melveny & Myers.
Mark Hallum can be reached at mhallum@commercialobserver.com.
Source: commercialobserver.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.