National Law Firm Moving its New York Office from East Side to Rudin’s Prestigious Midtown West Tower
The Rudin Family, one of New York City’s largest private owners, operators and developers of first-class real estate, today announced that AmLaw 100 law firm Ballard Spahr has signed a 10-year, 27,000 square-foot lease at 1675 Broadway, a 35-story, 850,000 square-foot office tower in the heart of Midtown.
Ballard Spahr, which will occupy the entire 19th floor of the property, will relocate its multi-practice New York City office from its current location at 919 Third Avenue in the first quarter of 2018.
With more than 500 attorneys in offices throughout the United States, Ballard Spahr represents leading clients across a range of industries in litigation, business and finance, real estate, intellectual property, and public finance.The lawyers in its New York office are known for their work in the areas of litigation, corporate matters, real estate, bankruptcy, antitrust, consumer financial services, white collar defense and internal investigations. In addition, the firm’s New York attorneys devote thousands of hours to pro bono cases every year.
“We are pleased to welcome Ballard Spahr, which joins a diverse group of prestigious firms who have chosen to make 1675 Broadway and this dynamic neighborhood their home,” said Bill Rudin, Co-Vice Chairman and CEO of Rudin Management Company, the operating arm of Rudin Family holdings. “With its unparalleled access to transportation, including the new Second Avenue Subway, and its broad array of entertainment, dining and recreational options, Midtown West has become the destination of choice for successful companies operating in such bedrock New York City industries as law, finance, technology and media.”
“Our New York office has grown considerably since we opened it four years ago and our strategic plan calls for continued expansion in a number of key areas,” said Ballard Spahr Chair Mark Stewart. “We were looking for a building that offered flexible and efficient workspace design, a convenient location and room to grow. We found it in 1675 Broadway. We’re happy to be starting our next chapter in Midtown West.”
Ballard Spahr was represented by Alan Wildes and Melissa Bazar of Cushman & Wakefield. Building ownership was represented by Robert Steinman, Vice President at Rudin Management Company. Asking rents were $75 per square foot.
Including Ballard Spahr, the Rudin family has completed 683,000 square feet of long-term leases, renewals and expansions at 1675 Broadway over the past few years alone.In 2016, the Rudins completed a 27,000 square-foot lease with the law firm Roberts & Holland LLP and a 24,195 square-foot lease with financial services company Bankrate Inc.In 2015, the Rudins completed two separate transactions, totaling 605,000 square-feet, with the global advertising and media company Publicis Groupe.
Built in 1989 by Jack and Lewis Rudin, the handsome green-gray Canadian granite office building at 1675 Broadway was constructed using the air rights over the adjacent Broadway Theatre. Designed by renowned architectural firm FXFOWLE, the building – which is situated at the corner of Broadway and West 52nd Street – features an elegant Italian marble-clad lobby with vaulted ceilings, virtually column-free floor plates that can create 10 corner offices and an in-building, 60-car parking garage. The property is Wired Certified Platinum, recognizing its best-in-class internet infrastructure and connectivity. It is steps away from the 7th Avenue B/D/E and the 57th Street N/Q/R/W subway lines, which offers a direct connection to the new Second Avenue subway.
According to Mr. Steinman, the Rudin Family is currently marketing 78,000 square feet of modern, virtually column-free office space on the 18th, 20th, and 21st floors of the office tower.
Rudin Management Company, which serves as leasing and managing agent for 1675 Broadway, is a full service real estate organization managing the interests of the Rudin Family, which owns and manages one of the largest privately owned commercial and residential property portfolios in New York City.Among its real estate holdings are 16 office buildings containing approximately 10 million square feet of space and 20 apartment buildings comprising over four million square feet of residences. Known for its presence in the Midtown West office market, the Rudin Family has also partnered with the media giant Thomson Reuters in developing their North American headquarters at 3 Times Square. The Rudin Family, with partner Global Holdings, Inc., is also the developer of The Greenwich Lane, a 199-unit luxury condominium in the heart of Manhattan’s West Village.
