Law firm Goodwin Procter signs Park Ave lease, breathing life into once-sleepy Midtown South

New York Post - Apr 6th, 2025
Open on New York Post

Goodwin Procter's decision to move from the New York Times building to BXP’s 200 Fifth Ave. in Flatiron highlights a significant shift in Manhattan's commercial real estate market. The move, scheduled for late 2026, will see the firm expand its office space from 216,000 to 250,000 square feet, with options for further growth. This relocation underscores the resurgence of Midtown South as a prime business hub, joining other major companies like IBM and Franklin Templeton in revitalizing the area. The decision reflects broader trends of recovery in Manhattan’s office market, which has shown resilience and growth since the pandemic.

Despite initial predictions of a prolonged downturn, recent data indicates Manhattan's office leasing volume in early 2024 has reached its highest since 2019. The availability rate has decreased significantly, and physical office attendance is nearing pre-pandemic levels. This development contradicts earlier pessimistic forecasts, suggesting a robust recovery driven by major corporations like Citadel, Blackstone, and Amazon increasing their presence in the city. As the market bounces back, new challenges like potential impacts from political changes, such as tariffs, loom on the horizon, but historical patterns suggest adaptability and resilience in New York City's commercial landscape.

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RATING

7.2
Fair Story
Consider it well-founded

The article provides a largely accurate and timely analysis of Goodwin Procter's relocation and the recovery of the Manhattan office market. It effectively uses credible sources to support its claims, though it could benefit from more explicit attribution and transparency regarding data sources. The narrative is engaging and well-structured, presenting a clear and optimistic view of market trends.

However, the article's focus on positive developments may limit its balance and impact, as it does not fully explore the complexities and challenges that remain in the market. Incorporating a broader range of perspectives and providing more context for certain claims would enhance its depth and influence.

Overall, the article is a well-written and informative piece that captures the reader's attention, though it could strengthen its credibility and engagement by addressing the nuances of the market's recovery and the factors influencing it.

RATING DETAILS

8
Accuracy

The article presents a largely accurate depiction of Goodwin Procter's planned relocation and the broader trends in the Manhattan office market. The claim about Goodwin Procter's move from The New York Times Building to 200 Fifth Avenue is supported by multiple credible sources, confirming the relocation and the details of the lease, including the expansion options. The discussion of the Manhattan office market's recovery, citing increased leasing volumes and reduced availability rates, is also corroborated by data from major real estate firms like Newmark and CBRE.

However, the article's claim that physical office attendance has risen to 76% of pre-pandemic levels, while supported by The Partnership for New York City, could benefit from more detailed data or context to fully understand the nuances of this recovery. Additionally, while the article accurately references past media predictions about the office market's decline, it could provide more balanced insight into why those predictions were made and how circumstances have changed.

Overall, the article is well-supported by factual data and credible sources, though it could enhance its accuracy by providing more context for some claims and acknowledging any potential limitations or uncertainties in the data presented.

7
Balance

The article offers a predominantly optimistic view of the Manhattan office market, highlighting the recovery and growth in leasing activity. It contrasts this positive outlook with past negative predictions by media outlets, suggesting these forecasts were overly pessimistic. While this provides a compelling narrative of resilience, it risks underrepresenting the complexity of the market's recovery and the challenges that remain.

The piece could improve its balance by incorporating perspectives from stakeholders who may have a more cautious or critical view of the market's trajectory, such as those concerned about ongoing economic uncertainties or the potential impact of new tariffs. Including such viewpoints would provide a more nuanced understanding of the market dynamics and the factors influencing them.

Overall, while the article effectively counters previous negative predictions, it would benefit from a broader range of perspectives to ensure a more balanced and comprehensive analysis of the current market conditions.

7
Clarity

The article is generally well-written, with a clear structure that effectively guides the reader through the main points regarding Goodwin Procter's move and the broader trends in the Manhattan office market. The language is accessible, and the narrative is engaging, particularly in its contrast between past predictions and current realities.

However, the article could improve clarity by providing more context for certain claims, such as the specific factors contributing to the increase in office attendance or the challenges that may still affect the market. Additionally, some sections could benefit from more explicit transitions between topics to ensure a seamless flow of information.

Overall, while the article is clear and engaging, enhancing the depth of context and ensuring smooth transitions between topics would further improve its clarity and readability.

8
Source quality

The article is supported by credible sources, including announcements from Goodwin Procter and data from reputable real estate firms such as Newmark, CBRE, and others. These sources are authoritative in the context of commercial real estate and provide reliable data to underpin the article's claims about the Manhattan office market.

However, the article does not specifically attribute some of its claims to these sources within the text, such as the increase in physical office attendance. While it references The Partnership for New York City, more explicit attribution throughout the article would enhance transparency and allow readers to better assess the credibility of the information provided.

Overall, the quality of the sources is strong, but the article could improve by more consistently attributing its claims to specific sources, thereby enhancing the reader's ability to verify the information.

6
Transparency

The article provides a clear overview of Goodwin Procter's relocation and the state of the Manhattan office market, but it lacks detailed transparency regarding the methodology and data sources behind some of its claims. For instance, while the article mentions data from real estate firms, it does not specify which specific reports or data sets these figures are drawn from.

Additionally, the article does not disclose any potential conflicts of interest or biases that may influence its perspective, such as the author's affiliations or the publication's interests. Greater transparency in these areas would help readers understand the basis for the article's claims and assess any potential biases.

Improving transparency by clearly citing data sources and disclosing any relevant conflicts of interest would enhance the article's credibility and help readers make informed judgments about its content.

Sources

  1. https://commercialobserver.com/2025/03/goodwin-procter-200-fifth-avenue/
  2. https://www.goodwinlaw.com/en/news-and-events/news/2025/04/announcements-otherindustries-goodwin-signs-lease-for-new-york-office
  3. https://www.law360.com/pulse/modern-lawyer/articles/2320684/goodwin-procter-to-leave-times-square-for-flatiron-district
  4. https://www.goodwinlaw.com/en/news-and-events
  5. https://crenews.com/2025/04/03/goodwin-procter-leases-250000-sf-at-manhattans-200-fifth-ave-office/