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In the below video series JLL's
Kenneth Siegel, International Director and Co-Lead of the New York Law Firm Practice Group, delves into the New York-specific trends reported in
JLL's U.S. Law Firm Perspective, with a focus on changing space standards and emerging geographic opportunities as important considerations for New York law firms on the cusp of making occupancy decisions.
Occupancy, Efficiency, SpaceKenneth Siegel talks about why space is such an important factor for New York law firms when it comes to making occupancy decisions.
Evolving Space StandardsLearn about how changing space standards are being employed by New York law firms as they look to use space more efficiently.
Geographic OpportunityLearn how a demographic shift has unlocked geographic opportunities for New York law firms—allowing decision makers to consider areas such as the West Side and Downtown, as opposed to more traditional submarkets like the Grand Central area.
The Impact of TechnologyExplore the way technological advancements and tools have supported the downsizing trend, reducing the space and investment required for libraries and closings, and helping associates to be more independent with regards to drafting.
Advice for Law FirmsKenneth Siegel advises law firms to keep an open mind and put historical notions to the side when making occupancy decisions. He also encourages such companies to focus on the future needs and commuting patterns of their populations when planning over the long term.
Want to read more? Check out JLL’s U.S. Law Firm Perspective for further insights into law firm trends in key markets across the country.