Personal injury law firm Morgan & Morgan has signed a lease of 70,602 square meters in 199 Water Streetalso known as One Seaport Plazaaccording to the third quarter Manhattan office report of Colliers and CBRE.
Morgan & Morgan will move from subleases to long-term direct leases as part of the new deal, according to sources. The law firm moved into the building as a subtenant during the third quarter of 2023, moving from Midtown and originally taking 34,792 square feet, according to report issued on time from the Downtown Alliance.
This new lease gives the firm a more permanent house law Jack Resnick & Sons‘ One Seaport Plaza and expand the former office.
Cushman & Wakefield brokered deal for both tenant and landlord. C&W and Morgan & Morgan did not immediately respond to requests for comment from Commercial Observer.
The asking rent and the duration of the rent are not clear. The average asking rent for office space in Lower Manhattan is $64.88 per square foot during the third quarter of 2026, according to Colliers. But, previous CO report noted the asking rent of $40 per square foot in the building.
Built in 1984 on Water Street between John and Fulton streets, One Seaport Plaza is more than 1 million square feet, offering amenities that include a cafe and lounge area. Other tenants in the building included fintech company VCT Holdings, insurance company Seneca and law firm Foster Garvey.
Amanda Schiavo can reach the aschiavo@commercialobserver.com.