He told this blogger that the landlord at 1500 Broadway, where Edelman moved to 1989, was looking for $80 a-sq. ft. to renew the lease in Times Square.
The firm will pay half that in the West Village, according to Edelman, who added that he would rather reward staffers for solid performance rather than shell out for fancy real estate.
Richard is pumped that Edelman will occupy the top four floors of the new building and have access to the rooftop deck overlooking the Hudson River and the wilds of New Jersey.
Hard by the Holland Tunnel, 420 Hudson is not exactly “Big Sky Country,” but it is pretty much open space as far as Manhattan is concerned.
The move, continued Edelman, enables staffers to avoid the crush of Times Square. Foreign tourists, taking advantage of the “cheap” dollar, mobbed the place during the holiday season.
Given this country’s financial woes, the dollar does not look like it is going to rebound any time soon. That's good news for visitors, but a hassle for companies located in the "Crossroads of the World."
There is a drawback for Richard and the crew at Edelman. The Harvard Club, the host of many of the firm’s functions that this blogger attended over the years, is but a brief stroll down from 1500 Broadway.