Banking Landlord May Push Milbank Out of Its Manhattan Offices
Milbank Tweed Hadley McCloy may be kicked out of its Manhattan offices by landlord JPMorgan Chase when the law firm’s lease ends in 2013 because the bank reportedly wants more space for itself.
Milbank is said to be scouring New York for new digs, but there aren’t a lot of choices, the New York Observer reports. The firm needs 350,000 square feet, and there aren’t a lot of locations with that much space available.
The story reports that the law firm has a five-year option to renew its lease at the Chase Manhattan Plaza, but JPMorgan Chase is reluctant to grant the extension. Negotiations are ongoing, a source told the Observer.
One new location that may fit the bill: two new towers at the World Trade Center site that could be finished just in time for the 2013 move.
