Fiona Nanna, ForeMedia News

2 minutes read. Updated 10:00AM GMT Mon, July 1, 2024

The renowned global law firm Orrick, Herrington & Sutcliffe has renewed its lease for a significant 144,312 square feet of office space at the iconic 51 W. 52nd St. This architectural marvel, known as the “Black Rock” tower, once served as the headquarters for CBS.

Since Harbor Group International (HGI) acquired the landmark building for a staggering $760 million in October 2021, the property has seen a renaissance. The new owners have invested a substantial $128 million to modernize the building, ensuring it meets the demands of the 21st century. These upgrades include refurbished lobbies, enhanced interiors, and a suite of amenities featuring a state-of-the-art fitness center and an exclusive tenants’ café located in the concourse.

The extensive renovations have paid off, enabling HGI to secure 500,000 square feet of new leases and renewals. This impressive feat has brought the building’s occupancy rate to over 90%. Among the prestigious tenants are the influential law firm Wachtell Lipton Rosen & Katz and the Canadian pension fund CPPIB.

This renewal by Orrick, Herrington & Sutcliffe underscores the sustained desirability of prime office locations in New York City, particularly along Sixth Avenue. The strategic investments by HGI not only highlight the building’s historical significance but also its readiness to accommodate modern business needs.

For more updates on real estate developments and investments in New York City, visit our Real Estate News page.

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