American Retail Group

The American Retail Group had under lease 50,000 square feet in 1114 Avenue of the Americas with 3.5 years remaining on the term, and 15,000 square feet in 358-362 Fifth Avenue. They needed 80,000 square feet and wanted to consolidate operations under one roof. We were hired as their exclusive advisor to assist in this project.

Their goal was to reduce their annual occupancy cost while expanding and consolidating the operation. After extensively searching the market, we were able to create contiguous space for them at 1114 Avenue of the Americas, with options for contiguous expansion space, and a substantial rent reduction effective immediately. The American Retail Group thus was able to lease more space, at a lower rental rate than they were obligated to pay under their old lease.

Banco di Napoli

This project involved the purchase and renovation by Banco di Napoli of a 22,000 square foot townhouse on 54th Street between Madison and Fifth Avenues for its US Headquarters.

Daniels & Associates

This transaction involved the relocation of Daniels & Associates, a media and telecommunications investment banking firm, from 767 Fifth Avenue (GM Building) to 711 Fifth Avenue (Coca Cola Building). With Plymouth Partners Group' assistance, Daniels agreed to a long-term lease of approximately 10,000 square feet.

Getty Images, Inc.

Getty Images retained Plymouth Partners Group to consolidate and relocate all of its groups into one location. During this search, Getty's space needs grew from 32,000 square feet to 261,000 square feet in a situation that was nicknamed "jigsaw puzzle meets dominoes." At the same time, the vacancy rate for Manhattan office space approached 0%. Against this background, Plymouth Partners Group was able to secure a home for Getty that met and exceeded all of its requirements - all at a reasonable cost.

The Hearst Trade Book Group

Plymouth Partners Group was retained to evaluate consolidation alternatives for The Hearst Trade Book Group in Manhattan.

After having been located at 105 Madison Avenue for over thirty (30) years, and spread out over five (5) non-contiguous floors in a building that was technologically and functionally insufficient, Plymouth Partners Group was able to effectuate a transaction at 1350 Avenue of the Americas for approximately 80,000 square feet.

The new lease at 1350 Avenue of the Americas provided The Hearst Trade Book Group with a new state-of-the-art facility in which they were able to consolidate their operations into contiguous space, and achieve a substantial concession package, and base rental rate that is $7.50 per square foot less than what they were paying at 105 Madison Avenue. Additionally, we were able to negotiate for numerous expansion options contiguous to their space.

The Netherlands Mission to the United Nations

The Netherlands Mission to the United Nations occupied 40,000 square feet in 711 Third Avenue. They needed approximately 60,000 square feet, and did not want to relocate. We were hired as their exclusive advisor to assist in this project. After exploring all opportunities at 711 Third Avenue, The Netherlands Mission to the United Nations decided to relocate to 235 East 45th Street. We negotiated for two (2) years of free rent to offset their remaining obligation at 711 Third Avenue, as well as a rent structure which is fifty (50) percent less than their remaining obligation at 711 Third Avenue.

In addition, we concluded a second transaction, a buyout of The Netherlands Mission to the United Nations' remaining leasehold obligations at 711 Third Avenue.

The New York City Fire Department

The Fire Department of New York evaluated consolidating its operations at one location of approximately 350,000 square feet. Plymouth Partners Group was retained to determine whether it would be more cost efficient for the Fire Department to remain at its current headquarters at 250 Livingston Street, or to relocate to another location.

After an extensive search and numerous studies, Plymouth Partners Group was instrumental in moving the Fire Department to 11 MetroTech Center. Not only did the Fire Department move to a much more efficient building but they achieved a significant reduction in its costs.