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A New York law firm has agreed to lease space in a Times Square office tower that is being seized by banks led by Citicorp.
The deal, which has not yet been announced, would be the latest evidence that the oversupply of new office space in New York is beginning to diminish.
Mendes & Mount will lease the space in 750 Seventh Ave. originally occupied by Olwine, Connelly, Chase, O'Donnell & Weyher. Olwine leased 143,000 square feet, or about 20% of the office space in the building, in 1990 but went out of business without ever paying rent.
Since then, the developer, Solomon Equities, has placed the building under bankruptcy protection....