Fried Frank renews office lease space to continue in Lower Manhattan
The firm has renewed lease in the New York's financial district Lower Manhattan for another 15 years at One New York Plaza
The US law firm Fried Frank will stay put at the One New York Plaza, the financial district Lower Manhattan. What is being seen as the largest deal since the onset of the COVID-19 pandemic last year, Fried Frank has renewed 400,000 square-foot office space that it has occupied since 1979 and is the headquarters of the firm at One New York Plaza for another 15 years.
The office currently houses around 300 lawyers and other staff. It has also hired the services of a professional agency to redesign and give a fresh look to its office. Architecture firm Gensler is to modernise some of its features, updating its look and feel. The office which is managed by Brookfield Properties features a recently renovated fitness center and retail concourse as well as a newly designed lobby
The extension of the lease is being viewed as the firm's confidence that business activities in New York's financial district are on the verge of bouncing back to pre-pandemic days.
Frank Fried has already announced its decision to bring back its lawyers to the office to push towards normalisation. Starting 13 September, attorneys associated with the firm would now be spending at least two days in the office and cut down on their forced work from home schedule. Their return to the office, however, would be purely voluntarily, meaning if they are not willing, they can continue working from home.
"We continue to closely monitor the evolution of the virus, the science and data and the advice of experts, including those with whom we consult, and will adjust our plans if circumstances dictate we do so," a spokesperson for the firm said.
Notably, the firm has decided to closely monitor the emerging situation and has reserved the right to reduce or expand depending upon the need.
David Greenwald, chairman of Fried Frank, said: "This is the beginning of another exciting chapter for us as we look forward to contributing to the City's ongoing revitalization post-pandemic, our firm's continued growth and working with our clients on their most complex matters."
Fried Frank's New York office mainly focuses on antitrust and competition, asset management, restructuring and insolvency, capital markets, commercial litigation, private equity, and white-collar criminal defense and securities enforcement, among other practice areas.
Besides New York, the firm operates another office in Washington DC and has two overseas bases in London and Frankfurt.