The dangling of millions of dollars in relocation benefits has persuaded another New York company to make the leap across the Hudson.
Law firm Eltman, Eltman & Cooper has signed a 10-year deal to relocate from Lower Manhattan to 101 Hudson Street in Jersey City in return for a $5.6 million Grow NJ tax credit as the firm brings 80 jobs to the Garden State.
Now located in 14,500 square feet within 140 Broadway, the 16,000-square-foot Jersey deal will give the lawyers a tad more in the 1.25-million-foot office tower — just one PATH stop across the river Hudson.
Joseph Genovesi and John Harte of Savills Studley represented the law firm, which was going to renew before studying the market extensively.
The new open-plan office geared toward employee retention has a lower New Jersey “loss” factor. Said Harte: “It’s a home run...”Another New York company to make the leap across the Hudson
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National Office Sector Report (Q2 2015)