The Salant Corporation, listed on the New York Stock Exchange, was located on two floors at 1155 Avenue of the Americas and had recently gone through the acquisition of seven smaller companies. Our firm received a call from their investment bankers that they had filed bankruptcy and needed the most economical deal in New York City. We secured a 30,000 square foot sublease from Deloitte and Touche in the W.R. Grace Building (1114 Avenue of the Americas), at $10.00 per foot including electric and cleaning services ($25.00 below asking price) for six and a half years. Due to the encapsulated asbestos existing in the space, we ingeniously convinced them that no other company would ever take over the space.

Four months later, we secured an additional floor of 30,000 square feet at the same terms and conditions.

Within two years, Salant's sales quadrupled which eventually led to their leasing of the 36th floor, which was negotiated by our firm. We skirted their financial past by using part of Salant's $100 million line of credit to build out the space at a reduced rent.

Three years later, Salant extended the two leases on the 9th and 10th floors and expanded into an additional 35,000 square feet on the Entire 8th floor.

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