Boies Schiller seeks to shed Hudson Yards office space

Law firm may explore sublease at 55 Hudson Yards

New York /
Nov.November 10, 2020 10:00 AM
David Boies and 55 Hudson Yards (Getty, Google Maps)

David Boies and 55 Hudson Yards (Getty, Google Maps)

A little over a year and a half after moving into its new office at Hudson Yards, Boies Schiller Flexner may scale down its presence at the megaproject.

The law firm spent millions of dollars moving from its previous HQ at 575 Lexington Avenue in Midtown Manhattan to a new tri-level space at 55 Hudson Yards. But now, amid a larger restructuring, the firm is looking to change its plan and possibly sublease the space, Business Insider reported.

“We are giving careful thought to where we want our offices to be, what size we want our offices to be, and how our offices will be staffed,” Natasha Harrison, co-managing partner of Boies Schiller, told Business Insider in a statement.

Boies Schiller initially agreed to lease four floors at 55 Hudson Yards, encompassing 83,000 square feet, in 2015. It moved into three of the floors, subleasing the fourth, according to Business Insider.

The firm has been making other cuts, including closing offices across the country and reducing its headcount.

With only 10 percent of Manhattan workers back in their offices, companies are rethinking their footprint, leading to a surge in spaces available for sublease in the borough. As of October, more than 16 million square feet of office space was available for sublease, according to an analysis by The Real Deal.

And big companies are hopping on the bandwagon: Uber is one of the firms exploring subleasing part of its office at 3 World Trade Center.

[Business Insider] — Keith Larsen


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
The Observation Deck at Hudson Yards (Credit: Adam Pogoff)
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
Facebook CEO Mark Zuckerberg and Hudson Yards (Credit: Getty Images and Wikipedia)
Facebook close to finalizing Hudson Yards office deal: report
Facebook close to finalizing Hudson Yards office deal: report
Hamed bin Zayed Al Nahyan (Getty)
Pandemic squeeze forces Abu Dhabi fund to reassess real estate exposure
Pandemic squeeze forces Abu Dhabi fund to reassess real estate exposure
Renderings of Greenpoint Landing in Greenpoint, 141 Willoughby Street in Downtown Brooklyn and 45-57 Davis Street in Long Island City (Photos via OMA, SLCE Architects and J Frankl Architects)
These were the top outer-borough loans in May
These were the top outer-borough loans in May
SL Green CEO Marc Holliday (Getty, Sl Green)
SL Green shareholders cry foul on CEO bonus
SL Green shareholders cry foul on CEO bonus
The New York Life Sciences and Biotechnology Center at First Avenue and 41st Street (NY Life Sciences)
Life sciences leasing breaks annual record in five months
Life sciences leasing breaks annual record in five months
The commercial market was hit hard by the pandemic, and property tax revenue is expected to fall 5 percent. (iStock)
Tax bills show how much Covid devalued NYC real estate
Tax bills show how much Covid devalued NYC real estate
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...