![]() Law firm leasing activity in New York rose by 92% from the second quarter to the third quarter of 2021, according to global property agents Savills Inc.īut even as demand has strengthened in the overall New York commercial office market, rent prices have not rebounded to pre-pandemic levels. ![]() He declined to specify the exact cost or other terms of the lease. "It was beneficial to us, and the timing worked to our advantage," Boller said. The Indianapolis-founded firm, which first entered New York just as the pandemic was arriving in early 2020, saw "significant" savings in signing a 14-year lease for 33,400 square feet at 390 Madison Avenue over the summer, compared to what it would have cost before the pandemic, said Rob Boller, the partner in charge of Barnes & Thornburg's New York office. (Reuters) - Barnes & Thornburg said it took advantage of lower New York City real estate costs to ink a new lease for a midtown Manhattan office triple the size of its old one. We welcome feedback, which you can provide using the feedback tab on the right of the page. We are improving this feature as we continue to test and develop in beta. The company and law firm names shown above are generated automatically based on the text of the article. Midwest firm Barnes & Thornburg says current office has run out of room.has dropped compared to pre-pandemic levels
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