Personal injury law firm Morgan & Morgan has signed a 70,602-square-foot lease at 199 Water Street, also known as One Seaport Plaza, according to third-quarter Manhattan office reports from Colliers and CBRE.

Morgan & Morgan will move from a sublease to a long-term direct lease as part of the new deal, according to a source. The law firm moved into the building as a subtenant during the third quarter of 2023, relocating from Midtown and originally taking 34,792 square feet, according to a report issued at the time from the Downtown Alliance. 

This new lease gives the law firm a more permanent home at Jack Resnick & Sons’ One Seaport Plaza and expands its office footprint.

Cushman & Wakefield brokered the deal for both the tenant and the landlord. C&W and Morgan & Morgan did not immediately respond to Commercial Observer’s requests for comment. 

The asking rent and the length of the lease were unclear. The average asking rent for office space in Lower Manhattan was $64.88 per square foot during the third quarter of 2026, according to Colliers. However, previous CO reporting noted an asking rent of $40 per square foot in the building. 

Built in 1984 on Water Street between John and Fulton streets, One Seaport Plaza spans over 1 million square feet, offering amenities that include a cafe and lounge area. Other tenants in the building include fintech firm VCT Holdings, insurance firm Seneca and law firm Foster Garvey. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.