Ropes & Gray Secures Landmark Lease in Midtown Manhattan: A Strategic Step Forward
Boston-founded law firm Ropes & Gray is making a significant move in the legal world by expanding its presence in New York City. The firm has announced a 20-year lease for over 535,000 square feet of office space at 1285 Avenue of the Americas, marking a major upgrade from its current location just a few blocks south at 1211 Avenue of the Americas. This bold decision positions Ropes & Gray for long-term growth in one of the world’s most competitive legal and financial markets.
A Strategic Move to Strengthen the New York Hub
New York City serves as a critical market for Ropes & Gray, and this expansion reinforces the firm's commitment to its clients and employees in the region. Firm Chair Julie Jones, recently reelected for a second five-year term, emphasized the importance of this move:
“New York serves as a strategic hub for our firm, our local clients, as well as many of our global clients. We have experienced tremendous growth in this important city by dedicating ourselves to providing top-tier legal services and by recruiting many of the best lawyers in the New York market.”
Currently, nearly one-third of the firm’s 1,500 lawyers are based in New York. Known for its strength in corporate transactions, mergers, and acquisitions, the firm represents high-profile clients such as Bain Capital and Pfizer.
The Rebounding Demand for Office Space Among Law Firms
The announcement of Ropes & Gray’s new lease aligns with a broader trend of law firms expanding their office footprints post-pandemic. According to a report by Savills, law firm leasing activity has grown by almost 30% year-over-year in 2024, reaching 6.4 million square feet across the U.S. New York City remains a significant player in this resurgence, accounting for over 25% of total leasing activity in the third quarter of 2024.
While some firms are downsizing, others—like Ropes & Gray—are taking steps to expand their physical presence. This trend is fueled by increasing return-to-office rates, with Wall Street leading the charge for in-person collaboration. Office attendance in New York is nearing 80% of pre-pandemic levels, showcasing a renewed appetite for high-quality office space in Midtown Manhattan.
Ropes & Gray’s Stellar Financial Performance
Additionally, the firm has demonstrated consistent success in mergers and acquisitions, ranking among the top 20 advisers for M&A in 2024 based on Bloomberg data. This growth highlights the firm's ability to attract premier clients and sustain its position as a leader in the competitive legal market.
Expanding Beyond New York: Growth in Washington, D.C.
While New York remains a focal point, Ropes & Gray has also been strengthening its presence in other key markets. Recently, the firm announced the recruitment of Amish Shah, a former Senior Associate Counsel to President Joe Biden, to its Washington, D.C., office. This addition underscores the firm’s ongoing efforts to attract top legal talent and diversify its service offerings across jurisdictions.
A Bold Vision for the Future
Ropes & Gray’s investment in a larger, state-of-the-art Midtown Manhattan office is more than just an upgrade—it reflects the firm’s confidence in its growth trajectory. By securing a 20-year lease, the firm is making a clear statement about its commitment to New York City and its clients in the financial capital of the world.
As law firms navigate the post-pandemic landscape, Ropes & Gray’s expansion serves as a benchmark for success, positioning the firm to thrive in an evolving legal industry.
