NEW YORK CITY—The legal sector has reached $287 billion in US annual revenue. This is more gross revenue than Amazon and Google combined. In real estate leasing, New York City is the largest law firm market in the country, followed by Washington, DC, at a close second.
That's why Cushman & Wakefield expanded their legal advisory group to 350 brokers. Six years ago, the real estate firm dedicated substantial resources to boost the group's research and analysis work evaluating the real estate component of the business of law.
For the last three years, Cushman & Wakefield has surveyed 750 law firm associates, who confidentially responded. Fifty percent are from the AM Law 100 list. (GlobeSt.com's sister publication, The American Lawyer, publishes an annual national ranking of the top 100 law firms based on financial performance. Twenty-five of these are headquartered in New York.) This type of information helps Cushman advise firms on both immediate needs and long-term succession planning.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
