Fancy Manhattan office space available at bargain prices!
Companies are subleasing prime space — space they are “no longer using” — at well-below market prices, a New York Times article says.
And one beneficiary of this “fire sale,” as the NYT calls it, is Holland & Knight. The firm is renting 82,000 square feet of space from Clifford Chance. The two firms inked the sublet in September after the space had been on the market for more than four months.
Holland & Knight will be taking it over fully furnished.
The carbon copy-like quality of law firms is helpful in deals like this. Stuart Eisnkraft, a CB Ellis executive who represented Clifford Chance in the deal, noted this selling point. He told the NYT that, because it was already furnished for a law firm, little work would need to be done before move in.
Clifford Chance has had office space open up during the economic downturn. Above the Law reported in March it was letting go 20 attorneys from its New York office.
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