New York County Lawyers' Association Building at 14 Vesey St. Photo: Monika Kozak/NYLJ

The New York County Lawyers Association is selling its majestic 89-year-old headquarters on Vesey Street and will be leasing space in a building a few blocks away beginning in early 2020.

The association cannot disclose the identity of the buyer or the price because the sale must first be approved by the state Attorney General's office. The board unanimously voted Monday to authorize the sale of 14 Vesey St.

The Vesey Street building, a New York City landmark, is the work of Cass Gilbert, the architect who designed the U.S. Supreme Court. The walls are so thick, however, that connecting to Wi-Fi in every nook and cranny is a challenge, and the facility seriously needs more widescreen televisions.

The new headquarters at 28 Liberty St., owned by Fosun International, was formerly known as One Chase Manhattan Plaza and has undergone $150 million in upgrades. The building will have 200,000 feet of retail space with an upscale restaurant, top music acts and a 10-screen movie theater. The state Attorney General has offices in the building.

“It marks the beginning of a new chapter allowing NYCLA to better serve the needs of current and future members in a brand new space in a state-of-the-art building that will be an important downtown destination,” said Michael McNamara, NYCLA's president.

Staying in the Vesey Street building presented challenges. It was difficult and costly to modernize it and extend Wi-Fi throughout the building. With millennials less interested in attending events onsite, bar associations have been re-evaluating the cost of maintaining ornate and historic headquarters.

While members were universally impressed with the building's beauty and stature, hardly any of those surveyed objected to selling it, Toni Valente, director of marketing and membership, said in an interview last summer. In a press release announcing the move, Stephen Lessard, NYCLA's president-elect, said it's important to change with the times.

“If you look at law firms across the country, they look different than they did even 10 years ago,” Lessard said.”Bar associations should reflect their members, and NYCLA recognizes that technology and the need for flexible space has become very important.”

The architectural firm Gensler helped NYCLA plan its new space. The CBRE Group Inc. helped NYCLA market its current building, and DLA Piper provided legal representation in connection with the sale.

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