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News Feb 27, 2015

Shearman & Sterling Advises Solow Realty on Strategic Lease Extension

Shearman & Sterling represented an affiliate of Solow Realty & Development Company in connection with a lease transaction at
9 West 57th Street, often referred to as the most prestigious office tower in Manhattan. The transaction included a significant expansion and long-term extension with Chanel, Inc., a long-standing occupant of the building's tower floors where its executives reside. In a transaction that sends an extremely positive message to the market, Chanel, Inc. not only made a long-term commitment for its existing 58,000 rentable square feet of space but also leased an additional 136,000 rentable square feet, principally covering full floors in the building's base and lower tower floors.

The Shearman & Sterling team consisted of counsel Peter Strauss (New York-Real Estate), associate Kristopher Ferranti (New York-Real Estate) and partner Chris Smith (New York-Real Estate).

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