Law firm Sullivan & Worcester has relocated its Midtown office and leased 20% less space.
The firm with 52 New York-based attorneys moved to 1251 Sixth Ave. from 1633 Broadway, a short walk away on West 50th Street.
The new space at 42,000 square feet is smaller but has a view of Rockefeller Center and a “fun and collaborative” environment, managing partner David Danovitch said. The rent is also lower than at 1633 Broadway, though Danovitch wouldn’t say by how much. More importantly, the office is a touch closer to Grand Central Terminal.
“We wanted to be a bit more centrally located, a little bit easier to get to,” he said.
Law firms have become prime tenants for office landlords with space to fill. The firms typically don’t pay top dollar but do tend to fill up the middle floors of office towers. A return-to-office survey by the Partnership for New York City last fall showed law firms had average daily attendance of 65%, the same as finance and the most of any profession except real estate, at 75%.
Several major law firms may call the movers in the years ahead, including Willkie Farr & Gallagher, whose lease for 300,000 square feet at 787 Seventh Ave. expires in 2027. Ropes & Gray’s lease for 330,000 square feet at 1211 Sixth Ave also expires in 2027. Also looking for space are Goodwin Procter and Covington & Burling, both located in the New York Times Building on Eighth Avenue across from the Port Authority bus terminal.
Cravath Swaine & Moore is moving this summer to 2 Manhattan West from Worldwide Plaza, a hefty blow to the Eighth Avenue building.
Sullivan & Worcester’s new office building is owned by Japan’s Mitsui Fudosan. The 54-floor tower’s lobby includes an artist-authorized replica of a tapestry by Pablo Picasso.
Danovitch said the goal is for the new office to replace Boston as the firm’s largest. The firm is contemplating an expansion into Hong Kong.
“New York is the gateway for what we’re trying to do,” he said.
Aaron Elstein , 2024-05-03 20:15:31
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