Shepardson Stern and Kaminsky Relocates Downtown

NEW YORK CITY-Shepardson Stern and Kaminsky signed a 10-year lease for 19,932 sf at 88 Pine St. Lease rates were confidential, however other space in the building is ranging from $34-$39 per sf. Grubb & Ellis Company represented the strategic communications firm, while Cushman and Wakefield represented the landlord in the transaction.

SS&K, which specializes in advertising, public relations, graphic design and new media services, occupied nearly 10,000 sf at 568-578 Broadway in Soho for 10 years before addressing a need for more space to accommodate its growth. “We’ve discovered reasons beyond patriotism and economics to migrate further downtown. It’s a rich place to explore and enjoy,” says Mark Kaminsky, a partner at SS&K.

The company will take advantage of a number of Downtown incentive plans including $3,500 over two years for each of the 60 jobs it is bringing to the area, $2,400 per employee for one year in federal tax credits as well as New York City real estate tax abatement over five years.