While physical office occupancy in Manhattan continues to fluctuate around 41%, according to Kastle Systems’ Return to Work Barometer, it seems counterintuitive that many companies show no signs of shrinking their space.
In one of this year’s biggest rebuttals to the “work from home” panic, public relations consulting giant Edelman just renewed 173,618 square feet for 15 years at Jack Resnick & Sons’ 250 Hudson St.. The company has been around for 13 years – “one of the best decisions we’ve made,” said CEO Richard Edelman.
The turnover is more impressive given that media and marketing companies such as Edelman supposedly lend themselves more to the WFH than financial services firms.
The old printing house dating from 1932 was converted into a Class A office building in 2009 for $40 million.
Resnick was a pioneer in transforming the Hudson Square area from once a printing and manufacturing center into a modern office destination. Resnick also recently remodeled 315 Hudson St., which is now mostly leased to Google.
CBRE’s Mary Ann Tighe, Ken Meyerson, Todd Lippman and Adele Huang replaced Edelman during the lease renewal. Adam Rappaport and Brett Greenberg replaced Resnick internally.