A little over a year and a half after moving into its new office at Hudson Yards, Boies Schiller Flexner may scale down its presence at the megaproject.
The law firm spent millions of dollars moving from its previous HQ at 575 Lexington Avenue in Midtown Manhattan to a new tri-level space at 55 Hudson Yards. But now, amid a larger restructuring, the firm is looking to change its plan and possibly sublease the space, Business Insider reported.
“We are giving careful thought to where we want our offices to be, what size we want our offices to be, and how our offices will be staffed,” Natasha Harrison, co-managing partner of Boies Schiller, told Business Insider in a statement.
Boies Schiller initially agreed to lease four floors at 55 Hudson Yards, encompassing 83,000 square feet, in 2015. It moved into three of the floors, subleasing the fourth, according to Business Insider.
The firm has been making other cuts, including closing offices across the country and reducing its headcount.
With only 10 percent of Manhattan workers back in their offices, companies are rethinking their footprint, leading to a surge in spaces available for sublease in the borough. As of October, more than 16 million square feet of office space was available for sublease, according to an analysis by The Real Deal.
And big companies are hopping on the bandwagon: Uber is one of the firms exploring subleasing part of its office at 3 World Trade Center.
[Business Insider] — Keith Larsen