January 23, 2020
Law firm Labaton Sucharow opted for efficiency in renewing its lease at 140 Broadway in the Financial District, committing to 57,000 square feet while giving back 13,000. That’s on account of a recent study of the firm’s occupancy and workplace usage, which revealed that it could reduce its footprint by 20% and significantly limit any up-front capital expenses related to becoming more efficient.
“In New York, we’re seeing several law firms do more with less space due to improvements in technology and a preference for increased collaborative space,” said NKF’s Jared Horowitz, who represented the tenant with colleagues Dan Gronich and Jason Perla.
A Cushman & Wakefield team of Robert Constable, Myles Fennon and Edward Mobello provides agency leasing for 140 Broadway’s ownership, which includes Union Investment Real Estate GmbH. The 51-story tower is anchored by investment bank Brown Brothers Harriman.
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