New York, NY - In one of the largest Lower Manhattan transactions year-to-date, the Rudin Family has signed a 20-year lease renewal withlaw firm Hughes, Hubbard & Reed for 226,416 square feet of office space at One Battery Park Plaza.
Spanning nearly 11 floors, the firm currently occupies the entire 10th through 18th floors, a portion of the 7th floor and a portion of the basement in the 36-story, 875,000 square-foot, class A building, located downtown and wholly owned by the Rudin Family.
“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,” stated Bill Rudin, Co-Vice Chairman and CEO of Rudin Management Company, 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 as well as Hughes Hubbard’s and the Rudin Family’s commitment to downtown New York.”
Candace K. Beinecke, Chair of Hughes Hubbard & Reed LLP, commented: “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.”
Sam Sultanik, Jillian Kane and COO Gerard Cruse represented Hughes Hubbard in the long-termtransaction along with Neil Goldmacher, Chris Mongeluzo and Mark Weiss of Newmark Grubb Knight Frank. Thomas M. Keating, Senior Vice President and Director of Commercial Leasing, represented the Rudin Family.
Constructed in 1971, One Battery Park Plaza is located in the gateway to downtown, occupying the full block bounded by Bridge, Pearl, Whitehall and State Streets. The property includes other major tenants such as The Partnership for New York City, Liberty Mutual Insurance Company, Seward & Kissel, Meridian Capital, and Mitchell & Titus, Mound, Cotton, Wollan & Greengrass.
In addition to One Battery Park Plaza, other downtown office buildings owned by the Rudin family include 80 Pine Street, 55 Broad Street, One Whitehall Street, 110 Wall Street and 32 Avenue of the Americas.
About Hughes Hubbard
Hughes Hubbard & Reed LLP is an international law firm ranked No.1 for the second consecutive year in 2012 on The American Lawyer’s A-List of what the magazine calls “the top firms among the nation’s legal elite”—the firm’s eighth year on the list. The firm was founded in 1888 by the renowned jurist and statesman Charles Evans Hughes. Maintaining its longstanding commitment to downtown New York, the firm open its first offices at One Wall Street on June 10, 1937, with eight partners and eight associates, all from the predecessor firm, and was to remain at the same address for more than 50 years.
About the Rudin Family
Rudin Management Company, which serves as leasing and managing agent for One Battery Park Plaza, is a full service real estate organization managing the interests of the Rudin Family, which owns and manages one of the largest private 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 their understanding of the integration of technology into real estate, the Rudin Family partnered with the media giant Thomson Reuters in developing their North American headquarters at 3 Times Square. In addition, the Rudin Family developed 55 Broad Street – the first totally wired office building in in New York City, featuring Hive @ 55, a collaborative co-working space operated in conjunction with the City of New York and the Alliance for Downtown Manhattan.