Client Objectives

OnLine Residential is the premier Multiple Listing Service company for the New York residential real estate industry. We introduced them to the Plug ‘n’ Go Program in the mid 1990’s and they became among the first companies to realize the economic benefits of this pilot program in the Insurance District. This program was an incubator for fledging technology companies, offering them turn-key space with data wiring, discounted rents and Downtown tax incentives offered by the city. Now OnLine Residential required a Class A property for meeting with their upscale clientele, twice as much space to accommodate their growth, a column-free training room that could seat 45 people, an exposed ceiling which is a rarity in the Wall Street area, natural light & views, and a 24 hour/7 day AC system. They also wanted to remain in the Wall Street area to be eligible for the Downtown Tax Abatement & Incentive Program.

The Result

After a search of over 20 buildings, 75 Broad Street became the leading property. The building offered the following: an exposed ceiling without a landlord surcharge, a floor plate that was ideal for a training room due to large column widths, excellent light and harbor views, and a tenant-controlled AC system. 75 Broad Street had also undergone a 35 million-dollar capital improvement program that included a renovated three-story art deco lobby, new mechanical systems, a back-up electrical generator for emergencies, and newly renovated hallways and bathrooms. And just as important, OnLine Residential qualified for the tax incentives.

Additional Assignments: Relocation to/from: 55 John Street & 50 Broad Street