Cravath joins Midtown exodus with move to Manhattan’s Hudson Yards

Elite New York law firm Cravath will abandon its wood-panelled offices in Midtown Manhattan for the up-and-coming Hudson Yards development on the island’s west side on Monday, amid an exodus from the neighbourhood that has long been home to some of the city’s biggest legal names.

The 205-year-old firm’s move follows similar westward shifts from rivals including Cooley, Skadden Arps, and Debevoise & Plimpton, and is a further blow to the area that once formed Manhattan’s corporate core, which is struggling to fill empty skyscrapers. Vacancy rates in Midtown surged to a historic high of almost 23 per cent in the first three months of the year, according to a report by real estate firm Cushman & Wakefield.

Source: Cravath joins Midtown exodus with move to Manhattan’s Hudson Yards