Olshan Represents 29-76 Realty Company in Lease for LIC Headquarters Space for Nonprofit Fortune Society

Commercial Observer (subscription required) reported on Olshan’s representation of landlord 29-76 Realty Company in creating a complex leasehold “condo within a condo” condominium structure for a 31-year lease signed by nonprofit organization The Fortune Society, whose mission is to support successful re-entry from incarceration and promote alternatives to incarceration, to renew and expand its headquarters at 29-76 Northern Boulevard, a five-story building at the intersection of Northern Boulevard and 40th Road in Long Island City, Queens. As part of the deal, The Fortune Society renewed its existing 77,898 square feet at the building and added 13,564 square feet, bringing its total footprint at the property to 91,462 square feet. Co-Chair of Olshan’s Real Estate Law practice Thomas Kearns and real estate partner Dov Brandstatter represented the landlord in this transaction.