Holland & Knight is relocating its current New York offices from a 105,000-square-foot space at 195 Broadway, where it's been located since 1987, and will take possession of the new space in January, according to a release from FirstService Williams, which represented the firm. It's subleasing floors 11 through 13 and part of the second floor from Clifford Chance.
The FSW release says Holland & Knight initially considered either a short-term renewal or relocating within Downtown as a solution to its lease expiration, due to occur next April. The "extraordinary opportunity" to sublease from Clifford Chance, in space that had already been built out for a law firm, proved attractive, says FSW's Ted Rotante in a release.
The New York Law Journal, sister organization to GlobeSt.com, quoted Holland & Knight partner William Honan as saying the declining rents in Midtown were too good to pass up. Honan told the NYLJ that the layout of the pre-built interior space has been "reconfigured" to maximize efficiency for 101 attorneys and 95 staff members.
"We're reducing the space for library and file rooms," Honan told the NYLJ. "The reception room will be smaller. Attorneys' offices there will be about 20% smaller, and the corridor is five feet wide, and not six." Four new hires are expected to join the company at its new location in January, the NYLJ reported.
"With the growth options we obtained as part of the lease agreement, Holland & Knight will be well positioned for years to come," says Rotante, senior managing director at FSW, in the release. Rotante represented Holland & Knight along with FSW president Michael Cohen and vice chairman Andrew Roos. A CB Richard Ellis team including EVP Stu Eisenkraft and SVPs Andrew Sussman, Brad Needleman and Laurence Briody represented Clifford Chance.
The 30-story, 729,011-square-foot 31 W. 52nd St. was originally built for the sole occupancy of stock brokerage E.F. Hutton. Its current owner, the Paramount Group, acquired it in late 2007 for $595 million.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
