B&B Leasing found great commercial office space in Manhattan for an affordable price.
B & B Leasing Properties, a real estate investment specialist, looked at all the high-end spaces available in the Plaza District and found nothing they could afford. Trump Tower was asking $125 per foot, which initially put it out of reach.We understood, however, that a large block of multi-floor space had recently been vacated in the Tower, and that it was unlikely that a similar size tenant would be found to replace it. It seemed therefore that the owner might be hungry to seed the space with some smaller tenants to generate some excitement about the location, and this proved to be correct.
We were able to secure a deal for $90 per rentable square foot, $35 below original asking. Further, we secured a workletter for $85 per foot, and five months' free rent.