Pryor Cashman Takes 100,000 SF

NEW YORK CITY-Law firm Pryor Cashman is concluding a two-year search for new space with a 15-year lease of 100,000 square feet at 7 Times Square, where it will move in mid-2009. The deal, completed last week, was announced on Monday.

Ronald H. Shechtman, managing partner at Pryor Cashman, tells GlobeSt.com his firm had “looked at multiple spaces and submitted multiple lease proposals” in the course of two years, and also considered renewing in place. “At the same time, we wanted to be ready should a unique opportunity arise.” That opportunity arose when San Francisco-based firm Heller Ehrman–which closed its doors in September–left its New York offices in virtually move-in condition.

Shechtman credits CB Richard Ellis, which represented both Pryor Cashman and landlord Boston Properties, with “truly educating us about the market and helping us reach consensus.” As a result, the deal came together in less than a month.