I was quoted in another excellent article in the New York Times by Anna Kode which dealt with the ongoing saga regarding the Chrysler Building (see below).
“While there may be confusion in the current moment, nothing will likely change long-term for the tenants [in the Chrysler Building], said Ms. Colp-Haber. “This happens all the time — buildings are sold, and typically the lease is just moved with the building.”
“But what will be affected, she added, is the landmark’s reputation. The public perceptions surrounding the Chrysler Building “affects the future leasing, and the future revenue of the building,” Ms. Colp-Haber said. As a commercial real estate broker, “I’m just thinking, do I really want to put one of my valued clients in that building?”
We at Wharton Property Advisors are always thinking about the potential long-term impact on our clients of their real estate decisions. That’s why we have so many repeat clients even though businesses tend to take office space in 5 to 7 year increments.
We believe that it is important to place our clients in buildings where we are confident that a high level of services will be maintained over the long-term. Fortunately, there are plenty of great options for tenants and opportunities for value today. However, with the ownership in turmoil in certain buildings before we propose a space we must be comfortable that it serves our clients’ best interest to be in that building. That’s the Wharton difference that many other brokers won’t take into consideration as we represent our clients with integrity, creativity, independence and diligence.
“The Fight Over The Chrysler Building Escalates”
NY Times
Click here to read the article
