Our Brokerage and Leasing
An Example of Our Creativity and Expertise
We were retained by a national retailer to dispose of its lease obligation for a prime Manhattan location. However, landlord refused our client’s offer of a 1 million-dollar buy-out payment. The lease had 10 more years to go.
React quickly. We located a credit worthy subtenant and structured the deal to the advantage of all three parties—landlord, tenant and subtenant. We arranged for the existing tenant to pay $350,000 toward renovation of the premises and had the subtenant guarantee its performance with the overtenant. Overtenant avoided costly future rental payments while subtenant gained access to a prime retail location for which landlord continues to receive a market rent. Turnaround time was less than four months.