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Grad Associates fall victim to recession

The effects of the recession are still hitting prominent architecture firms worldwide, clearly illustrated by the recent announcement of Grad Associates in Newark, New Jersey, ending contracts with its fifteen remaining employees and closing its doors for good. After 104 years in the business, a lack of commercial projects has been blamed for the firm’s closure. The original company was founded in 1906 by Frank Grad and kept in the family under the name ‘Frank Grad & Sons’, later run by Grad’s two sons, Bernard and Howard. Expansion in the 1960s saw new partners join the firm, which eventually became ‘Grad Associates’ in 1990. With multiple high profile buildings in its history, including the Izod Center including the Pegasus Restaurant, the Essex Hotel overlooking Central Park and the Martin Luther King, Jr. Federal Courthouse, Grad Associates had been an affluent architectural firm for many years.

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