More Lawyers, Less Office Space

Law firms are renting less office space — even as they hire more lawyers. New York’s lawyer population of 75,840 has grown 11.3% since 2010. But the average law firm in New York City has reduced its office space by 24% since the beginning of 2016.

“Law firms are smarter than ever about their workplace needs, and what is required to create a productive environment.” said Ken Rapp, vice chairman for CBRE (pictured).

Law firms are now less likely to reward senior partners with larger offices; put less emphasis on grand client spaces; create smaller, on-demand meeting rooms; and are more likely to adopt a paperless file storage strategy.

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