Weil Gotshal Wind-Down Leaves 830K SF of Office Space in Limbo

What happened

Weil, Gotshal & Manges, one of the country's best-known law firms with about 1,200 lawyers worldwide, announced on Wednesday afternoon that it will wind down. Bisnow New York reported the news on 10/29/2026. Earlier in the month the firm was in merger talks with Willkie Farr & Gallagher. Those talks fell apart, and Weil then brought in Davis Polk to advise on a possible restructuring before deciding to close. Weil did not respond to Bisnow's request for comment.

The closure matters to office landlords. A Bisnow analysis of CompStak data and public records found Weil leases more than 830K SF of office space across the U.S., in 12 leases across 10 markets. Most of those leases are larger than 35K SF, and most were signed or expanded since the start of 2025. Citing The Promote, Bisnow said the firm is light on debt but heavy on lease obligations. It is not yet clear how Weil will handle those leases or how much landlords will recover.

In New York, Weil is a major tenant at BXP's General Motors Building. Weil is BXP's ninth-largest tenant, according to BXP's latest quarterly filing. Crain's New York Business reported that a Weil departure could cause problems when the building's $2.3B mortgage comes due in June. On an earnings call, BXP President Douglas Linde said the space could be re-leased at much higher rents than the current in-place rent. Weil is also Hudson Pacific Properties' ninth-largest tenant, according to a Q1 2026 SEC filing.

Brokers told Bisnow that some landlords outside trophy towers may struggle to refill the space, especially older space with small security deposits. They also said the closure may change how landlords view law firms as tenants and how they secure leases, including larger security deposits, because they can no longer count on a law firm's corporate guarantee. The closest precedent cited was Dewey & LeBoeuf, which filed for bankruptcy in 2012.