Law firms are office landlords' new BFFs

In good times or hard times, lawyers always win.Revenues at the top 100 firms rose to $131 billion in 2022, the most recent year available, from $7 billion in 1986, a 19-fold increase, according to American Lawyer. Profit margins never fell below 35% in even the worst years and hit a record 45% in 2021. For comparison’s sake, Apple’s operating margin last year was 34%.Now lawyers are winning the office-space game, too: Law firms are historically reliable but not exactly sexy as office tenants, especially compared to the flashier and pricy deals in recent years signed by tech and finance companies. But several of the biggest deals over the last year involve law firms, and with Manhattan office landlords scrambling for tenants, members of the bar are enjoying their unlikely new status as belles of the ball.“It’s nice that the Knicks are good again because brokers are inviting me to all the games,” said one partner in charge of his firm’s real estate needs.Law firms typically don’t pay top-dollar rents, or seek out penthouse space, but they soak up space in the middle or lower floors of buildings, helping landlords balance their books. At 55 Hudson Yards, a 51-story tower, the top three floors are leased by hedge fund Third Point at $137 a square foot, according to KBRA data. Below that comes private equity firm Silver Lake, paying $111 per square foot under a lease inked in 2017. Next comes the law firm Milbank Tweed, which signed a lease in 2016 and pays $90 a square foot... Continue reading at 'Crains New York'

[ Crains New York | 2024-03-21 10:03:05 UTC ]

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The Week in Libraries: November 17, 2023

ALA names an interim executive director; New York City libraries curb services after a mid-year budget cut; Moms for Liberty goes after Scholastic Book Fairs; and the Pew Research Center finds people are increasingly turning to such social media sites as TikTok for news. Continue reading at Publishers Weekly

[ Publishers Weekly | 2023-11-17 05:00:00 UTC ]
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Amazon is officially killing the Comixology app, forcing users over to Kindle

Amazon has begun notifying Comixology users that they’ll no longer be able to read comics on the app come December 4. Comixology is merging with the Kindle app, and users’ libraries will soon only be accessible via the latter. The move caps off the ruination of... Continue reading at Engadget

[ Engadget | 2023-11-15 21:39:11 UTC ]
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Sacred Space: Why Libraries Are Essential to Incarcerated Writers

Libraries are sacred space within the unending, unrelenting madness, the profane that is Society, places where the predominant ideology is to inform. The Library of Alexandria was considered one of the Seven Wonders of the Ancient World; the Library of Congress is a wonderfully ( dis )organized... Continue reading at Literrary Hub

[ Literrary Hub | 2023-11-14 09:35:32 UTC ]
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Roli Seaboard Rise 2 review: I wish I had a horror movie to score

I am, primarily, a guitarist. Dabbling in keys and synths has always felt a bit unnatural from a physical standpoint. A keyboard doesn’t respond the way a fretted instrument does. This isn’t surprising, nor is it a bad thing. It’s just not what I’m used to. The better... Continue reading at Engadget

[ Engadget | 2023-11-10 15:00:28 UTC ]
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The Week in Libraries: November 10, 2023

Among the week's headlines: a good election night for libraries meant a bad one for book banners; a national teachers group met with Scholastic leaders over the company's abandoned program to segregate diverse books; and librarians fired for defending the freedom to read headed to the U.S. Equal... Continue reading at Publishers Weekly

[ Publishers Weekly | 2023-11-10 05:00:00 UTC ]
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The 16 Books Most Commonly Stolen from High School Libraries

The most commonly stolen books from high school libraries follow a pattern: they're usually mystery, poetry, or graphic novel titles. Continue reading at Book Riot

[ Book Riot | 2023-11-07 11:32:00 UTC ]
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British Library Hit by Apparent Cyberattack

Libraries across Europe appear to be facing attacks from cybercriminals. At Britain’s national library, an “incident” is sending scholars back to an analog age. Continue reading at The New York Times

[ The New York Times | 2023-11-03 17:15:37 UTC ]
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How to find the best gaming console for you in 2023

There is no such thing as the "best video game console," but figuring out which one is right for the gaming experience you want is more in reach. There are seven systems that you could reasonably call “current gen,” and others, such as Valve’s Steam Deck, further... Continue reading at Engadget

[ Engadget | 2023-10-27 14:00:06 UTC ]
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How L.A. libraries are supporting the next generation of Latino authors

Latino authors across Los Angeles are taking advantage of the resources offered by local libraries to jump-start their careers. Continue reading at Los Angeles Times

[ Los Angeles Times | 2023-10-11 16:59:02 UTC ]
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How to use Windows software in Linux

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[ PC World | 2023-10-10 10:30:00 UTC ]
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No Book Left Behind, by Alice-Catherine Carls

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[ World Literature Today | 2023-10-09 20:35:50 UTC ]
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Oof, when did streaming movies, games, and music get so expensive?

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[ PC World | 2023-10-04 14:10:27 UTC ]
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Assassin’s Creed Mirage preview: Finally, a return to stealth roots

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[ PC World | 2023-09-29 19:00:00 UTC ]
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9 free AI tools that run locally on your PC

It’s no coincidence that many programs using artificial intelligence techniques are open source and thus completely free. This is because the early approaches originated in academia, where free licences for software are common practice in order to promote collaboration and further... Continue reading at PC World

[ PC World | 2023-09-18 11:30:00 UTC ]
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These drag performers say protests, threats won't stop them from reading to kids at storytime events

Drag performers who read stories to children at libraries across Canada have faced an increase in protests calling the events destructive for kids, and in some cases, even threats of violence. But the king and queens say they won't let that stop them, because storytimes are about joy and literacy. Continue reading at CBC

[ CBC | 2023-09-16 08:00:00 UTC ]
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The Week in Libraries: September 15, 2023

Among the week's headlines: a politically charged hearing on book bans in the U.S. Senate; Illinois libraries face another wave of bomb threats; an internal report reveals the strain library workers at the Oakland Public Library are feeling; and a brilliant essay explores how today's right wing... Continue reading at Publishers Weekly

[ Publishers Weekly | 2023-09-15 04:00:00 UTC ]
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iCloud+ adds new 6TB and 12TB storage tiers

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[ Engadget | 2023-09-12 19:48:53 UTC ]
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8 Magical Libraries in Fiction

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[ Book Riot | 2023-09-12 10:34:00 UTC ]
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Asus Zenbook 14 Pro OLED review: Big power in a small package

At a glanceExpert's Rating ProsHefty performance for a 14-inch deviceCrisp oled displayTop-notch keyboard and mouse padSturdy, durable chassisConsCan get hot to play onSome fiddling with settingsOur VerdictIf you’re looking for serious power in a tiny package, the Asus Zenbook 14 Pro OLED... Continue reading at PC World

[ PC World | 2023-08-31 10:30:00 UTC ]
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The First App to “Help” Libraries and Schools with Book Bans Has Arrived–It’s Not What It Seems

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[ Book Riot | 2023-08-28 14:02:30 UTC ]
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