City's oldest law firm to remain in Lower Manhattan: Cadwalader, Wickersham & Taft set to spend $75m on renovation.The Partnership of Cadwalader, Wickersham & Taft LLP LLP - Lower Layer Protocol , the City's oldest continuous law firm and a resident of New York's Financial District since 1792, announced in a press briefing that it intends to remain in Lower Manhattan Lower Manhattan is the southernmost part of the island of Manhattan, the main island and center of business and government of the City of New York. Lower Manhattan is generally defined as the area delineated on the north by Chambers Street, on the west by the Hudson River (North , moving its offices and 800-person legal and administrative staffs to One World Financial Center in the first quarter of 2005. Joining Cadwalader at the press briefing was the Mayor of New York City The Mayor of New York City is the head of the executive branch of the Government of New York City. The office administers all city services, public property, police and fire protection, most public agencies, and enforces all city and state laws within the city. , Michael Bloomberg Michael Rubens Bloomberg (born 14 February 1942) is an American businessman, and the founder of Bloomberg L.P., currently serving as the Mayor of New York City. He was a general partner at Salomon Brothers before founding the financial software service company in 1981. , and George Pataki George Elmer Pataki (born June 24, 1945) is an American politician who was the 57th Governor of New York serving from January 1995 until January 1, 2007. He is a member of the Republican Party and was seen as a possible 2000 and 2008 Presidential candidate. , the Governor of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State. Earlier this year Cadwalader, one of a handful of law firms This list of the world's largest law firms by revenue is taken from The Lawyer and The American Lawyer and is ordered by 2006 revenue:[1]
The new 450,000 square foot World Financial Center space was selected because it allows the Firm to remain in the city's financial center and also affords expansion possibilities for the firm which is now in its ninth successive year of record breaking revenues, profits and attorney growth. "New York's Financial District is the premier financial center in the world. As one of the world's premier law firms it was logical to stay where the action is, has been and will continue to be for years to come," stated Robert O. Link, Jr., Cadwalader's Chairman. "The decision to move to One World Financial Center was a long and thought-out process. While we evaluated space in many areas of Manhattan the Partnership felt that One World Financial Center best met our needs. "It is an extraordinary building and has all of the features we need as a growing law firm--access to state-of-the-art technology, the ability to customize a work environment tailored to the needs of a 21st century law firm and easy accessibility to and for our clients. Our intention is to grow to 750 lawyers--a goal that can comfortably be accommodated in One World Financial Center," Link added. "Today's announcement represents one of the largest leases signed downtown since the tragedy of September 11th," said Mayor Bloomberg. "Cadwalader's determination to stay in Lower Manhattan sends a strong signal to the entire New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. business community that downtown's recovery is well underway. The pace of the progress downtown has been breathtaking: this fail, PATH service to downtown will be restored. Construction of a new ferry terminal at the World Financial Center will begin." Bloomberg added, "Preliminary designs of the new Fulton Street Fulton Street is a common name.. In New York City, the name is frequently associated with Robert Fulton, who invented a steam boat.
"Cadwalader joins the esteemed ranks of business that include Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. , American Express and DeutscheBank who have made the commitment to stay in Lower Manhattan," Governor Pataki said. "In signing the largest lease downtown since the horrible attacks of September 11th, Cadwalader underscores the fact that Lower Manhattan is, and will continue to be, the Financial Capital of the World." "By keeping 800 employees jobs in Lower Manhattan's business community, we will be that much closer to achieving the mayor's vision for downtown to remain a global business center and become a vibrant round-the-clock community," said Andrew M. Alper, president of the New York City Economic Development Corporation Overview New York City Economic Development Corporation (NYCEDC) is a non-profit local development corporation that promotes economic growth across New York City's five boroughs. . "The unprecedented spirit of cooperation among the public and private sectors has enabled us to make remarkable strides in revitalizing Lower Manhattan." Charles A. Gargano, Chairman of Empire State Development, "The work of the Governor and Mayor to retain Cadwalader is a tremendous victory strengthening downtown's reputation as the premier address for law firms. "Today is also a victory for the small businesses of Lower Manhattan who rely on customers and foot traffic created by firms like Cadwalader." Cadwalader's move to One World Financial Center is expected to be completed in the first quarter of 2005. The total cost to Cadwalader is expected to approach approximately $75 million including renovation on fourteen floors in the building. The potential to add another 250,000 square feet of space also exists. Cadwalader put its 325,000 square foot 100 Maiden Lane building on the market earlier this year. One World Financial Center is owned and managed by Brookfield Properties Corporation. Studley is representing Cadwalader in its lease negotiations. Jones Lang LaSalle Jones Lang LaSalle (NYSE: JLL) is a major real estate and money management services firm headquartered in the Aon Center in Chicago, Illinois and the only company in its industry making it into Fortune magazine's list of the 100 Best Places to Work in the U.S. is representing Cadwalader in the sale of 100 Maiden Lane. |
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