Taft, a national employment law and corporate transactions firm, has leased 16,563 square feet on the entire 24th floor of 1155 Avenue of the Americas in Midtown Manhattan. The space marks the law firm's first New York office.
The 42-story tower is owned and operated by the Durst Organization, a major Manhattan real estate developer known for properties like One World Trade Center. Taft's lease signals continued demand for premium office space among professional services firms in Midtown's core, despite ongoing uncertainty about post-pandemic workplace patterns.
The Avenue of the Americas location puts Taft in the heart of Manhattan's financial and legal district, surrounded by other major corporations and law firms. For the firm, the move represents expansion into one of the nation's most competitive legal markets. The entire-floor lease suggests Taft expects significant growth in its New York practice, likely attracting top talent seeking employment law expertise.
For Durst, the deal helps fill inventory in a tower that competes directly with other Midtown office buildings. The Durst Organization has maintained relatively strong occupancy rates despite industry-wide challenges affecting the Manhattan office market. Leases like Taft's demonstrate that quality space in prime locations continues to attract tenants willing to commit to substantial square footage.
The specific asking rent was not disclosed in the report. However, premium full-floor leases in Midtown office towers typically command $60 to $80 per square foot annually, depending on recent market conditions and building amenities.
For other law firms and professional services companies considering Manhattan expansion, Taft's decision reinforces that Midtown remains attractive for firms seeking visibility and client proximity, particularly those focused on corporate and employment practice areas. The lease reflects confidence in New York's continued importance as a legal and financial hub.