Revealing its financials for the first time, Miami law firm Bilzin Sumberg Baena Price & Axelrod reported $85 million in gross revenue for 2013.
Since the firm has never issued a financial report before, no comparisons are available. It’s unclear if Bilzin’s numbers are high enough to make it onto the Am Law 200 list. In 2013, the 200th-ranked firm had gross revenue of $90 million.
Bilzin has 100 lawyers in its only office in downtown Miami. The firm is known for its strong real estate and bankruptcy practices and represents some of the area’s top developers and transportation companies.
Profit per partner was $1.76 million and revenue per lawyer was $850,000 in 2013. Average compensation per partner was $1 million. These numbers are among the highest in South Florida.
Bilzin has 48 partners—23 equity and 25 non-equity. Its profit margin was an impressive 48 percent.
Abbe Bunt, a headhunter with Bunt Legal Search of Hollywood, called the numbers “impressive,” especially for a one-office firm.
“This proves you can do local, regional and national work in one office, keeping quality high and costs low instead of having high overhead by virtue of multiple offices,” she said. “The proof is in the pudding.”