NEW YORK CITY-In one of Lower Manhattan biggest transactions thus far in 2013, the law firm of Hughes, Hubbard & Reed has renewed its 226,416 square feet of office space at One Battery Park Plaza for another twenty years. Rudin Management Co. wholly owns the 36-story, 875,000 square-foot, class A building, following its buy-out of co-owner Rose Associates in early 2012.
Spanning nearly 11 floors, the firm’s offices occupy the entire 10th through 18th floors, a portion of the seventh floor and a portion of the basement in the office tower. The organization has been based in Lower Manhattan for 75 years.
Hughes, Hubbard attorneys Sam Sultanik, Jillian Kane and COO Gerard Cruse represented the firm in the 20-year lease transaction, along with Newmark Grubb Knight Frank‘s Chris Mongeluzo, executive managing director and vice chairmen Neil Goldmacher and Mark Weiss. Rudin SVP and director of commercial leasing Thomas Keating represented the building owner.
“We’re delighted that One Battery Park Plaza will continue to serve as the home for this global law firm which has been headquartered in our building since 1999,” says Bill Rudin, co-vice chairman and CEO of Rudin Management Co., the operating arm of Rudin Family holdings. “One Battery Park Plaza is one of Lower Manhattan’s most visible and accessible addresses with dramatic views of Battery Park and the New York Harbor. This transaction reaffirms the strength of the downtown market.
Adds Candace Beinecke, chair of Hughes,Hubbard & Reed, “We are very pleased to reaffirm our 75-year commitment to Downtown and look forward to continuing to work from the Rudin Family’s One Battery Park Plaza with its iconic views of the New York Harbor. We believe that maintaining our 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.”
Constructed in 1971, One Battery Park Plaza occupies the full block bounded by Bridge, Pearl, Whitehall and State Streets. Other major tenants at the property include the Partnership for New York City, Liberty Mutual Insurance Co., Seward & Kissel, Meridian Capital, Mitchell & Titus and Mound, Cotton, Wollan & Greengrass.
In addition to One Battery Park Plaza, other Downtown office buildings owned by the Rudin family include 80 Pine St., 55 Broad St., One Whitehall St., 110 Wall St. and 32 Avenue of the Americas.