I am pleased to pass on that the Real Estate Board of New York (REBNY) is considering Wharton Property Advisors in its annual competition for the Most Ingenious Deal of the Year for 2021. Please see the click-through sent by REBNY at the bottom of this e-mail for additional details.
We have three deals that have been submitted for consideration this year, which is the most for any single agent. In the first WPA assisted DailyPay, the industry leader in on demand pay, in a major transaction in which it took 137,000 square feet at 55 Water Street. This was the largest NYC sublease of 2021 and represents an important commitment by DailyPay to New York’s downtown financial district.
In addition, WPA is also being considered for the deal of the year for two other transactions.
The second deal was our innovative solution to assist prestigious law firm Montgomery McCracken in creating its own de facto co-working hub at 437 Madison Avenue. By subdividing the space, and offering flexible lease terms at competitive rents, WPA was able to sublease an entire floor in a couple of months at the height of the pandemic.
Please note that this approach can be utilized by other companies and professional firms looking to dispose of excess space. Feel free to contact us to tap our expertise if your company is facing this issue as we can help.
In the final transaction, we represented the Center for Comprehensive Health Practices, a non-profit healthcare provider which has been a pillar of the East Harlem community for over 60 years. We overcame numerous obstacles in securing a lease into the next decade for CCHP which will allow it to continue providing vital services to patients in its new home on 110th Street.
WPA is proud to be considered for the Deal of the Year honor in competition with the largest real estate firms in the world. In all of these transactions, WPA represented our clients with creativity, integrity, diligence and independence – which is always the hallmark of our work.