NEW YORK CITY—Related Cos. has inked its first tenant at 55 Hudson Yards. The law firm of Boies, Schiller & Flexner—in a relocation of its New York City headquarters—has agreed to take over 83,000 square feet across three floors of the 1.3 million-square-foot building when it opens in 2018. Average asking rents at the tower are $85 to $105 per square foot, Related tells GlobeSt.com.
The tenant will move to Hudson Yards from its offices in Midtown East, at 575 Lexington Ave. The firm will slightly reduce its footprint from approximately 94,000 square feet in the move, Related tells GlobeSt.com.
Avison Young principals Bill Morris and Greg Kraut, along with Arthur Mirante, president, tri-state region, represented the tenant in the transaction. Howard Fiddle of CBRE and Stephen Winter of Related represented the ownership group. Fifty Five Hudson Yards is being developed by Related, Mitsui Fudosan America and Oxford Properties Group.
“Fifty Five Hudson Yards is a perfect fit for our firm,” declares Jonathan Schiller, co-founder and a managing partner of Boies, Schiller & Flexner. “The building's strong and bold design is consistent with our firm's positioning, and the new headquarters will allow us to offer a contemporary, light-filled office environment to our employees. The building's efficient core design was a key feature for us because we can reduce our leased area while still providing space to continue to grow our firm. This location and new building will help us continue to attract and retain the top talent, and we love the amenities and transportation access that will benefit our employees and clients.”
Adds L. Jay Cross, president of Hudson Yards, “Boies, Schiller & Flexner has a well-earned reputation as a forward thinking and innovative law practice and its move to Hudson Yards is emblematic of the entrepreneurial culture David Boies, Jonathan Schiller and Donald Flexner have created. Its new space at 55 Hudson Yards will allow the firm to not only create a modern environment that better reflects its office culture but it also will offer the employees convenient transportation access and a park-front location.”
The building opens directly onto a park, with the main lobby sitting at the southwestern edge of the city's new Hudson Park. In addition, the new No.7 subway station is adjacent to 55 Hudson Yards and will open this year. The office tower will offer floor-to-ceiling glass throughout the building, bringing light streaming across the entirety of each floor and helping to promote the open skyline and river views it enjoys.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
