Cooley is the latest major law firm to choose the new Hudson Yards development on the West Side of Manhattan for its New York office.
The firm announced Monday that it intends to lease 130,000 square feet on five floors, near the top of the building at 55 Hudson Yards. The firm currently leases the Grace Building at 1114 Avenue of the Americas, where it has occupied about 100,000 square feet.
Other tenants include Intercept Pharmaceuticals; MarketAxess; Point72 Asset Management; and Silver Lake.
The firm will be “working alongside many of our clients,” Cooley CEO Joseph Conroy said in a statement, adding that the firm looks forward “to joining them in a stunning new environment that will be among the world’s most sophisticated law firm office spaces.”
Cooley signed the lease July 28 and intends to move in the first quarter of 2019. A firm spokesman said the lease is a “long-term commitment in the 20-year range.” About 250 employees will occupy the space.
The developers are billing Hudson Yards as the largest private real estate development in the nation’s history. The Hudson Yards development encompasses more than 18 million square feet of commercial and residential space, among other uses.
Jonathan Bach, partner in charge of Cooley’s New York office, said in an interview that the new location reflects “our ambitions in New York” and the firm’s trajectory.
Average asking rents for the remaining space at the tower are $105 to $140 per square foot. Bach declined to discuss the lease details.
Boies Schiller announced its plans in 2015 to occupy 83,000 square feet at 55 Hudson Yards. Milbank’s new digs will take up 250,000 square feet.