While the firm wanted to expand its showroom and offices at 453 W. 23rd St., the only available space was located on the ninth floor, four floors up from the company's current fifth floor location. Rather than relocate the sixth-floor tenant and incur additional build-out costs, brokers at Adams & Co. Real Estate LLC convinced building owner Twenty-Third Street Associates to dedicate one of the building's three manual freight elevators to Anthony Lawrence for its exclusive use between the fifth and ninth floors.

Adams & Co. principal James Buslik along with Alan Bonett represented both the tenant and the owner in arranging the 10-year lease, which was priced at $27.50 per sf for both spaces. "The tenant was eager to expand within the building and we were able to craft a solution that satisfied all parties," says Buslik.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.