As Manhattan’s physical office occupancy continues to fluctuate around 41%, as per Kastle Systems’ Back-to-Work Barometer, it seems counterintuitive that many corporations show no sign of cutting back their space.
In considered one of this 12 months’s largest rebuttals to the “make money working from home” panic, public relations consulting giant Edelman just renewed on 173,618 square feet for 15 years at Jack Resnick & Sons’ 250 Hudson St. The firm has been there for 13 years — “among the finest decisions we’ve made,” said CEO Richard Edelman.
The renewal is more impressive provided that corporations within the media and marketing fields comparable to Edelman supposedly lend themselves to WFH greater than financial-services firms.
The 1932-vintage former printing trades constructing was converted right into a Class-A office property in 2009 for $40 million.
Resnick was a pioneer in transforming the Hudson Square area, once a middle of printing and manufacturing, into a contemporary office destination. Resnick also recently redeveloped 315 Hudson St., which is now mainly leased to Google.
CBRE’s Mary Ann Tighe, Ken Meyerson, Todd Lippman and Adele Huang repped Edelman within the lease renewal. Adam Rappaport and Brett Greenberg repped Resnick in-house.