Proskauer Rose, a major global law firm, has expanded its office footprint at 11 Times Square in Manhattan by roughly 60,000 square feet. The firm now occupies more than 14 stories at the SJP Properties-owned tower, with the new space covering floors 31 and 32 of the 1.1 million-square-foot building at the corner of Eighth Avenue and West 42nd Street.
The expansion solidifies Proskauer Rose's position as a significant anchor tenant in one of Midtown's most visible office towers. The firm's total occupancy now reaches approximately 478,000 square feet, making it a critical revenue driver for the building. The addition reflects confidence in the Midtown office market at a time when major law firms continue to reassess their real estate strategies.
11 Times Square has served as headquarters for several major tenants over its history. The building, developed in the 1990s, sits in the heart of Times Square, one of Manhattan's most recognizable intersections. The location offers premium visibility and proximity to courthouses and other legal institutions that benefit a large practice.
The expansion represents a rare bright spot in New York's office market. Manhattan's overall office vacancy has climbed above 15 percent in many markets, with legal services proving more resilient than other sectors. Major law firms like Proskauer Rose typically sign longer leases and require stable, high-quality office environments that support their operational needs.
Proskauer Rose operates globally with offices across multiple continents and practices in areas including white-collar defense, corporate law, and litigation. The firm's commitment to expanding at 11 Times Square suggests ongoing demand for premium Manhattan office space among top-tier professional services firms, even as some companies downsize or explore hybrid work models.
For SJP Properties, securing an expansion from an existing anchor tenant avoids costly vacancy and redevelopment. Retaining Proskauer Rose keeps a major revenue source stable while reducing the need to market vacant floors to new tenants. The renewal also benefits the building's overall occupancy profile and justifies the maintenance investments required for modern office infrastructure.
The deal carries implications for the Times Square submarket. Successful renewals and expansions by established tenants signal that premium office space in prime Midtown locations remains in demand among firms willing to pay top-tier rents. This contrasts with other office corridors where negative absorption persists.
For law firms considering their own space needs, Proskauer Rose's decision to expand rather than consolidate sends a message about the firm's growth trajectory and commitment to in-person collaboration. The expansion likely reflects hiring plans and client service demands that justify additional square footage.
The timing of the expansion carries weight in an uncertain real estate cycle. As some major corporations relocate back-office functions or reduce headcount, law firms anchored to litigation, deals, and client counseling require proximity to decision-makers and courtroom access. This geographic imperative keeps Midtown Manhattan office space in demand despite broader market headwinds.