Pillsbury Winthrop New York has opened the doors to its Times Square co-headquarters as it becomes another law firm to choose midtown Manhattan over a downtown location.
The law firm has been housed downtown, at One Battery Park Plaza, since 1868 but decided take to 180,000 sq ft of space, over seven floors, at the Bertelsmann Building at Times Square.
The once run-down area of Times Square has been revitalised over the past few years, spearheaded by the New City Economic Development Corporation, a long-term client of Pillsbury.
Clifford Chance is staying midtown when its moves its New York office later this year while O’Melveny & Myers plumped for the Times Square Tower, originally built for Arthur Andersen which disintegrated on the back on the Enron scandal in 2002.
Since the events of September 11, businesses have been encouraged to stay in the downtown area, Cadwalader Wickersham & Taft recently announced it would stay in the financial district.