The Dilemma: Winslow & Company rented Maneesh Goyal of MKG Productions his first office space when he started his own event planning firm along with a colleague of his in a related, although different business. MKG Productions and the other firm shared a small space initially, but after one year both firms were growing so quickly that one had to locate to a new space. MKG Productions was fond of their location on 21st Street between 5th and 6th Avenues. This location not only had the right vibe for MKG Productions, but it was also located on the same street as Justin's. The owner of Justin's, "Diddy" is one of MKG Productions clients and proximity to clients is important to MKG Productions. MKG Productions tapped Winslow & Company again to help secure the right office space, which needed to be in the same neighborhood, and allow room for growth without exceeding a preset monthly budget. The Solution: Paul Maass, Associate Broker at Winslow & Company surveyed available spaces, checked availabilities, and showed Maneesh of MKG Productions the available spaces on the market within his parameters. Nothing initially captivated Maneesh, so we got back to work and started leveraging our relationships with brokers around the city to find out that there was a space at just the right size and at the upper limits of our budget constraints. Not only was the space priced right, and sized right, but IT WAS ON THE SAME BLOCK as MKG Production's original space. We negotiated for the space to be delivered newly painted, with freshly refinished hardwood floors, and a new bathroom and storage area, in addition to some free rent to offset the costs of MKG Production's move.
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The Dilemma: The President of Carl Bloom Associates, Carl Bloom, a direct mail advertising firm based in the city, was looking to retire in about five years and his existing lease at 232 Madison Avenue was costly. Initially, Carl Bloom tapped GVA Williams to help sublet his space and to search for a new space in Westchester, close to the Bloom family home and where office rents are significantly lower. After about nine months Carl Bloom's brokers at GVA Williams had failed to secure a subtenant, and Carl Bloom only had two years left on the sublet. Any sublet shorter than two years is hard to dispose of and often results in a "fire sale."
The Solution: Carl Bloom contacted Paul Maass at Winslow & Company after he was the only broker in Manhattan to submit a serious offer for his space. We offered some tips on how to market Carl's space more effectively and therefore dispose of the sublet, while also strategically seeking a new office space in Westchester. Within 30 days Paul secured a viable offer on Carl Bloom's sublet, and had located a perfect office space for the firm in downtown White Plains, within walking distance to Metro-North for his soon-to-be reverse-commuters. This all occurred during Thanksgiving, giving us less than 30 days to create and revise subleases, negotiate terms on the new space, draw plans for alterations to the new space as well as have our contractors perform aesthetic upgrades to Carl's old space for the incoming subtenant.
We worked around the clock for several weeks and by the end, Carl Bloom moved into his new, beautiful, and less expensive office space just before the New Year, and SharedBook, Carl Bloom's subtenant, moved in to their new sublet a week before Christmas, as requested. No one thought we would pull it off, but Paul Maass made sure the deal came together seamlessly. Two years later, SharedBook turned to Paul Maass to assist in their search for a new office space. |
