Morgan & Morgan, a personal injury law firm, signed a 70,602-square-foot lease at 199 Water Street, known as One Seaport Plaza, according to third-quarter Manhattan office reports from Colliers and CBRE.
The firm transitions from a sublease arrangement to a long-term direct lease under the new deal. The move represents a significant expansion of Morgan & Morgan's Manhattan footprint in the Seaport District.
One Seaport Plaza sits in a competitive Manhattan office market. The building's appeal to major tenants reflects the continued demand for premium office space in lower Manhattan, particularly in mixed-use developments like Seaport that combine office, retail, and residential components.
The lease signing adds to activity at the 1.4-million-square-foot building, which hosts multiple tenants across professional services and finance sectors. Third-quarter leasing data from commercial brokerages typically captures major transactions and tenant movements across Manhattan's office market.
Morgan & Morgan operates as one of the nation's largest personal injury practices, with offices across multiple states. The firm's decision to secure a direct lease rather than continue subleasing suggests confidence in its long-term Manhattan operations and represents a commitment to a larger, dedicated workspace.
The transaction underscores ongoing corporate demand for office space in lower Manhattan despite broader market uncertainties. Law firms and professional services companies continue to occupy significant portions of New York City's premium office real estate, particularly in locations with strong transit access and professional amenities like Seaport.