Ropes & Gray Expands in Midtown Manhattan with Landmark Lease

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Ropes & Gray Expands in Midtown Manhattan with Landmark Lease

Ropes & Gray, the Boston-founded law firm known for its prowess in corporate transactions and M&A, is making a major move in New York City. The firm announced Monday that it will relocate to a larger office space in Midtown Manhattan, underscoring its commitment to growth in the financial capital of the world.

The new office, located at 1285 Avenue of the Americas, will span over 535,000 square feet—a significant upgrade from its current location at 1211 Avenue of the Americas, just a few blocks south. The firm’s 20-year lease for the new space will take effect in 2028, providing a long-term hub for its expanding New York operations.

New York: A Strategic Hub for Growth

Ropes & Gray’s decision to expand reflects the firm’s strategic focus on New York as a critical market for its services. Firm Chair Julie Jones, recently reelected for a second five-year term, emphasized the importance of the city in a statement:

  

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“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 to these clients and by recruiting many of the best lawyers in the New York market.”

Roughly one-third of Ropes & Gray’s 1,500 lawyers are already based in New York, with the firm’s reputation for delivering premier legal counsel attracting high-profile clients such as Bain Capital and Pfizer.

Big Law’s Appetite for Office Space Rebounds

The announcement comes as major law firms continue to ramp up their physical office presence, signaling a rebound from the pandemic-induced slowdown. According to real estate advisory firm Savills, law firm leasing activity has surged by nearly 30% year-over-year, reaching 6.4 million square feet of office space leased so far in 2024.

New York remains a dominant player in this resurgence, accounting for more than 25% of total law firm leasing activity in the third quarter. While Chicago led in the number of deals and larger transactions, New York firms have shown a robust return-to-office push, driven in part by Wall Street’s emphasis on in-person collaboration. Return-to-office rates in the city are now nearing 80% of pre-pandemic levels.

The trend is split across the industry, with about one-third of firms expanding their office footprints, another one-third scaling down, and the remainder maintaining status quo.

Ropes & Gray’s Financial and Market Performance

Ropes & Gray remains one of the most financially successful firms in the Big Law landscape. In 2023, the firm reported nearly $3 billion in revenue and $4.5 million in profits per equity partner, according to The American Lawyer.

The firm’s reputation for excellence extends to its deal-making expertise. Through the first three quarters of 2024, Ropes & Gray ranked among the top 20 advisers for mergers and acquisitions, based on Bloomberg data.

Recent Moves Highlight Expansion Beyond NYC

While New York represents a major growth area for Ropes & Gray, the firm has also been expanding its presence in Washington, D.C. Last month, it announced the recruitment of Amish Shah, who previously served as Senior Associate Counsel to President Joe Biden. Shah’s move underscores the firm’s continued focus on attracting top-tier legal talent to enhance its service offerings across jurisdictions.

A Bold Step for the Future

Ropes & Gray’s investment in its new Midtown headquarters is more than just a real estate transaction—it’s a statement of confidence in the firm’s trajectory and its commitment to serving clients in one of the most competitive legal markets. With nearly 20 years locked into its future Manhattan home, the firm is doubling down on its growth strategy and positioning itself for sustained success in the years ahead.