Hughes Hubbard & Reed have signed a lease for an office space that boasts more than quarter of a million square feet. The law firm’s new office will be one of the largest deals this year in lower Manhattan. Hughes Hubbard & Reed have taken a two decade lease on the 11 floors, from the 10th through the 18th floors, along with some space on the 7th floor as well as in the basement. The building itself is a 36 story giant, at 875,000 square feet with a beautiful glass exterior.
The CEO of Rudin Management Company, Bill Rudin, commented on the commercial real estate deal, that it “reaffirms the strength of the downtown market as well as Hughes Hubbard & Reeds, [as well as] the Rudin family’s commitment to downtown Manhattan.” The CEO expressed delight that the prestigious and loft building, One Battery Park Plaza, will be the head office of the firm. Rudin went on to say that this specific address was one of the most luxurious, “visible, and accessible addresses with dramatic views of Battery Park and the New York Harbor.” Such a fashionable address and beautiful location should surely belong with Hughes Hubbard & Reed. “
Though the primary players who brokered the deal were not immediately available for comment, Neil Goldmacher, Chris Mongeluzo and Mark Weiss of Newmark Grubb Knight Frank represented Hughes, Hubbard & Reed, and Thomas Keating represented the Rudin Family, according to the Commercial Observer.
The new home office of Hughes was built in 1971, being a full square block surrounded by Bridge, Pearl, Whitehall, and State Streets. During my tenure working downtown as a fresh graduate, I recall walking out of my office on State Street and within five minutes being at the harbor, where I took my lunches. One of my most notable memories there was watching small chipped icebergs floating in the harbor- the wind being warm, the air crisp, with a lovely chill ocean lapping at the edges of the downtown shore.
Candace Beinecke, Chairwoman of Hughes Hubbard & Reed has made known her firm’s “75 year commitment to downtown” as well as its continued commitment to the renewal process and rebirth of lower Manhattan. She stated, “We believe that maintaining out offices in lower Manhattan will best enable our firm to continue to provide best in-class services to our clients. This commitment reflects our confidence in the lower Manhattan market and its future as a true 24/7 hub for business, residents, tourists, open space, art, and culture.”