The firm inked a five-year sublease with Reuters. Newmark & Co.'s Moshe Sukenik, Chris Mongeluzo and Christine Claffey represented White & Case. Cushman & Wakefield's executive directors Gary Greenspan, Joe Cabrera, Andy Peretz and Gerry Miovski represented Reuters. Space in the site goes for $34 per sf.
A contributing factor in White & Case's decision to once again house operations in Lower Manhattan was incentives available through the Small Firm Attraction and Retention Grant program, which is jointly administered by the New York City Economic Development Corp. and the Empire State Development Corp. White & Case, founded in 1901 by J. DuPratt White and George B. Case, now consists of nearly 1,900 lawyers in 38 offices in 25 countries. The firm moved to 14 Wall St. in 1909 remaining there until 1984 when it moved to its current headquarters location at 1155 Ave. of the Americas.
Under SFARG, White & Case will receive $3,500 for every worker relocated. Funded by HUD, the program offers cash grants to firms that locate less than 200 employees in properties south of Canal Street. Inaddition, White & Case will apply for discounted energy through the Power Downtown program.
Sukenik calls the deal is a major victory for Lower Manhattan, which had seen a host of companies and law firms move their back office-typefunctions outside of the city in the aftermath of the terrorist attacks of Sept. 11. Sukenik says that during its long search, White & Case studied sites in Long Island City and elsewhere in the five boroughs, New Jersey and Westchester, as well outside the New York metropolitan area. "In the end, the incentives available Downtown and the positive developments now taking place tipped the scales."
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