Milbank Packs Its Bags For Hudson Yards
The high-brow law firm Milbank, Tweed, Hadley & McCloy inked a letter of intent for 250k SF at 55 Hudson Yards. That's the Far West Side office tower the property’s developers have been marketing to law firms.
The deal for a spot in the 1.3M SF office tower should be finalized toward the end of summer, after which Milbank will make the long trek from its Downtown digs at 28 Liberty St—where the firm’s lease will continue through 2019, the Commercial Observer reports.
“At Hudson Yards, we look forward to creating an office space for the firm’s exciting future—a space which will foster our collaborative, energetic and inclusive culture,” Milbank chairman Scott Edelman said.
Related Cos’ Hudson Yards, set to be the largest mixed-use project in history, has been attracting high-profile tenants left and right, enticing the likes of Time Warner, PERE giant KKR and the world’s largest commercial lender, Wells Fargo.
The respected tenants have boosted the project’s financing—but the massive undertaking is also heavily reliant on the EB-5 visa program for funds, just as some US lawmakers are cooking up changes to the controversial legislation. [CO]