ISSUE NO. 17 | September 06, 2022 | | |
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Dear 555 Community,
Suddenly, it’s September. The last three weeks of summer are always juxtaposed with the burst of energy and tempo-quickening that signals fall. All around us is renewed energy and optimism, and we are already seeing even more people returning to the office and the city. It is lovely to see familiar faces in our lobby, elevators, and hallways. Welcome back!
In this edition of 555 Madison Connects, Eric Menkes, partner and co-chair of the leasing practice at Duval & Stachenfeld, is in the tenant spotlight. We share a few timely building updates and offer up some suggestions for when you find yourself with time to take in culture and art offerings throughout our beautiful city.
Happy reading!
The Rodney Corporation
| Please note: While we send this update to our designated tenant contact, we encourage you to share this newsletter and all issues with your entire staff so we can keep our community connected and informed. |
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TENANT SPOTLIGHT
Hedgehogs in Real Estate
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Eric Menkes, Partner
Duval & Stachenfeld
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Eric Menkes is a partner and the co-chair of the leasing practice at Duval & Stachenfeld, a law firm that has called 555 Madison Avenue home for the past eight years. “The firm signed on two years prior to moving into the building. We made a forward bet on the market and it proved to be a smart one. At the time, Sony Music had leased the space and they sublet it to Tiffany’s. We inherited Tiffany’s installation, made some changes and then stayed,” explains Menkes. | |
While the circumstances of acquiring the space were circuitous, the deal was by no way unusual or complicated for the firm. After all, it specializes in commercial real estate and is the trusted representative of so many institutional real estate investors. According to Menkes, 555 Madison Avenue has worked out perfectly for the firm. “The building is well maintained. We like the staff and appreciate the owner’s efforts to upgrade the building. It’s smack in the middle of everything and the people who work here are great.” The fact that New York’s go-to attorneys for commercial real estate selected this building for their home base is a source of pride for 555 Madison Avenue. | |
Stuffed hedgehogs like these are readily found around the office and represent Duval & Stachenfeld’s hedgehog principle. | |
Their offices occupy the entire 6th and 7th floors and house about fifty-five attorneys, twenty additional staff members and, curiously, a lot of stuffed hedgehogs and images of hedgehogs. Stuffed hedgehogs are given to every employee on their first day on the job, and to clients as well. Their presence makes the law offices more endearing and joyous than most, but that’s not their intent. The hedgehog is the firm’s mascot of sorts. It serves as a symbol of Duval & Stachenfeld’s approach to its practice. | |
The hedgehog’s residence at Duval was inspired by the management book Good to Great: Why Some Companies Make the Leap... and Others Don't by Jim Collins. Menkes explains: “The book is about identifying what you do well as a business and focusing on becoming the best at it. What a hedgehog does best is protect itself. That’s a reminder to focus on being the best at something. At Duval, that has translated into the principle that we care, deeply, about our clients and colleagues—not just because we bill hours and the clients pay us—but because there is something unique about this place. Plus, I like to think we’re pretty good at the practice of law.” | |
“In the earliest phase of the pandemic all businesses were quiet, but then there was a resurgence of activity. 2022 is looking really good for us as well. We just keep doing our thing, like hedgehogs.” | |
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This summer Menkes spent plenty of time out in East Hampton riding around in his sports car. It’s his happy place when he is not immersed in work, but he says he is looking forward to more activity and office time in the fall. “People in the real estate industry – and we consider ourselves part of the real estate industry – have been returning to the office at a higher rate. Our team has as well. For me, I like coming in. I find there are less distractions. Now that it’s September I think we’ll see even more people throughout the city return to their offices, which is great.”
For so many businesses, the pandemic meant reassessing commercial real estate needs, which translated into significant activity for Duval. Menkes notes: “2021 was a very busy year for the firm; our best year ever. In the earliest phase of the pandemic all businesses were quiet, but then there was a resurgence of activity. 2022 is looking really good for us as well. We just keep doing our thing, like hedgehogs.”
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Other Building Updates & News | |
Our ongoing elevator renovation project continues. We are expected to complete all work in the first quarter of 2023. We appreciate your continued patience and understanding. The upgrades will be worth it! We promise. | |
What our new elevator cabs look like. | |
For the past 27 years, Rosa Guiracocha has been an integral part of our building staff. Day in and day out she has ensured that our facilities were clean and well stocked. She always greeted everyone with a friendly smile. Rosa retired in mid-August and we thank her for her service and wish her the best in her retirement. | |
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Thank you to all who attended our second annual ice cream social on Wednesday, August 17th. It was great to catch up with colleagues, friends and building neighbors. The most popular flavor of the day was most definitely Chocolate Fudge Brownie. | |
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September brings with it a plethora of cultural events across the city. From sports to theater, here’s what not to miss this month: | |
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The U.S. Open
There’s still time to grab tickets to the fourth and final Grand Slam event of the year. Held at the USTA Billie Jean King National Tennis Center, the tournament runs through September 11 and will spotlight the talents of superstars and newcomers alike.
More information here.
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All Balanchine at Lincoln Center
NYCB kicks off its season by showcasing a trio of classic works by its famed founding choreographer from September 20-30. Ballet fans can also celebrate the 10th anniversary of the Fall Fashion Gala on September 28, with world premieres by Gianna Reisen and Kyle Abraham and the first live performance of Justin Peck’s Solo.
More information here.
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Charles Atlas: The Mathematics of Consciousness at Pioneer Works
The exhibition, opening September 9, centers on a multimedia installation that takes inspiration from the artist’s ongoing interests in science and math—particularly, memory, thought formation, and numerical expressions. The immersive video work extends across 100 feet of the institution’s interior projecting flickering images throughout its windows that simulate the ways in which ideas appear in the human mind.
More information here.
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Hear Me Now: The Black Potters of Old Edgefield, South Carolina at The Met
Focusing on the work of African American potters in the 19th-century American South—in dialogue with contemporary artistic responses—the exhibition (opening September 9) presents approximately 50 ceramic objects from Old Edgefield District, South Carolina, a center of stoneware production in the decades before the Civil War.
More information here.
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Gold In Motion at the Hall des Lumières
Billed as “New York’s permanent digital art center,” the Hall des Lumières kicks off its programming on September 14 with a multi-sensory celebration of Gustav Klimt’s most iconic work, covering the walls of the historic Emigrant Industrial Savings Bank on Chambers Street with glowing 30-foot-high displays mapped perfectly to the space.
More information here.
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The Piano Lesson on Broadway
August Wilson’s Pulitzer Prize-winning play returns to the stage with a star-studded cast including Samuel L. Jackson, John David Washington (yes, Denzel’s son), and Tony and Emmy nominee Danielle Brooks.
More information here.
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NEWS TIPS: We are eager to hear and share your news. Please send story tips and news items about your company and employees for consideration for this newsletter to: newsletter@rodneycorporation.com.
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Thank you for reading our newsletter!
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