LM Cohen & Company (LMC), a rapidly growing accounting firm, sought a real estate advisor to evaluate its occupancy in New York City. Specifically, it was growing out of its space (with 7 years remaining on its lease) and required a space solution providing flexibility to accommodate for continued growth in a building that better reflected its image and clientele.
Spaces Commercial was retained to market its sublease and to evaluate options in NYC.
Analyzed and evaluated all viable blocks of space on the market in the three defined submarkets
Performed marketing analysis for the disposition of LMC’s office in the Garment District
Performed a labor force analysis of relocation options including financial analysis
Minimized work force disruption and political ramifications of relocation
Provided flexibility in LMC’s occupancy through identifying expansion opportunities within the building throughout LMC’s lease.
Evaluated prospective buildings capital stack to develop negotiating strategy
Executed a 14,000 RSF lease at 535 Fifth Avenue, a class A office property with a prestigious 5th Avenue address
Executed a 5,964 RSF sublease on LMC’s behalf at 1 West 34th Street.