Boies Schiller Flexner is shedding more office space in New York following reports of declines in revenue and headcount.
The litigation firm founded by famed trial lawyer David Boies is subleasing an entire floor—some 28,000 square feet—at 55 Hudson Yards, according to a real estate listing viewed by Bloomberg Law.
The move follows a report late last year that Boies Schiller was looking to offload space at 55 Hudson Yards amid a larger restructuring at the firm. The American Lawyer reported steep declines in revenue and profit at Boies Schiller in 2020. The headcount firm declined by 41% to 177 lawyers.
The firm moved into three of the floors at Hudson Yards in March 2019, subleasing a fourth. Boies Schiller in 2015 had announced plans to lease out 83,000 square feet across four floors.
“As we confirmed in November 2020, Boies Schiller Flexner has been giving careful consideration to our geographic footprint as part of our broader strategic review,” Matthew Schwartz, a managing partner at the firm, said in a statement provided to Bloomberg Law. “In line with this year-long review, we publicly listed one floor of our 55 Hudson Yards space more than two months ago.”
The space was designed by architecture and design firm Schiller Projects, founded by Aaron Schiller, son of the firm’s co-founder Jonathan Schiller.
Earlier this year, several former Kasowitz Benson Torres partners founded a new law firm, Glenn Agre Bergman & Fuentes, which would be using some of Boies Schiller’s office space in New York and San Francisco.