Finely architected office space in NYC for your architecture firm.

Hardy Holtzman Pfeiffer Associates, Architects, occupied 15,000 square feet at 257 Park Avenue South and needed double that space with the proper economics. After scouring the market, we came upon the top two floors at 902 Broadway, a building that was being converted from factory to office space. We presented our proposal to Malcolm Holtzman who loved the idea and gave us the go-ahead to negotiate. The owner loved our tenant, but GVA Williams, representing the landlord, did not agree to the deal at $9.00 for five years, $10.00 for five years and $11.00 for five years. We wrote a personal letter to Abner Rosen, the owner of the building, explaining that the tenancy would drastically upgrade his property and bring prestige to the building. Jerry Cohen, the President of GVA Williams, tried to push the deal higher but we prevailed with the owner to produce the deal at the aforementioned rental.

Eight years later, the base rent had escalated to $16.50 per foot and the firm found themselves struggling in a tough real estate market. We renegotiated a new rental of $13.50 per foot for the remaining seven years. We were also able to preserve our five year renewal option at $16.50 per foot which was exercised.

In 2004, the architectural firm split, with Hugh Hardy and several members from the old firm retaining us to dispose of one of their floors and to negotiate a new lease for the new entity – H3 Hardy Collaboration Architecture – to stay on a full floor for another five years.

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