Darby & Darby has been located at 805 Third Ave. for the last 17 years and will move all of its 200 employees to its new site by spring 2007. This marks the fifth major lease signed in the building. Andrew Baum, managing principal of Darby & Darby, tells GlobeSt.com the process of searching for space and signing the lease, "once we kicked it into high gear it took about four months."
Baum tells GlobeSt.com the new building has numerous advantages over the company's old digs. "At 7 World Trade Center we will be on two floors. Where we are now, we're spread over four floors. Plus, the larger floor plates are going to allow us to do more to maximize our efficiency as a company."
Baum says the terms of the deal were in line with rates in the building and the area, and that state and other government incentives aided the decision to move Downtown. While participants in the deal would not discuss pricing, judging from previous deals in the building, the price was probably around $50 per sf.
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