Commercial Real Estate & Advisory

Production House in a Pinch

August 8, 2004

Driver Media Inc., an independent production house that’s done commercial work for companies ranging from Microsoft to Pepsico, was in a jam. Plans to lease a new space had come to a screeching halt, and the company had only three weeks to vacate its digs. The roadblock ended when Driver enlisted Sinvin Realty Corp., downtown mavens to creative folks, to find space quickly.

All told, the deal took 10 days. “The good news for Driver was that there’s a lot of good available space,” says Michelle Stone, managing director of Sinvin Realty. “They were lucky because the market is soft.”

In June, Driver moved into 115 W. 27th St., between Sixth and Seventh avenues–down the street from their old space. “This came together pretty quickly,” says Driver executive producer J.D. Williams. “The landlord gutted the space, tore down walls, and painted. We’ve needed to do some fixing up, but the space has beautiful south-facing windows, high ceilings, skylights and a roof terrace, which is pretty nice in Manhattan.”

Driver, which works for top ad agencies and shoots celebs like Tiger Woods and Anna Kournikova for commercials, installed a wet bar and kitchen for entertaining, a conference room and an editing room.

Mr. Williams says there have been some growing pains in its new home. “The elevators don’t always work and we’ve had a mouse problem, but the owner has been responsive.”

Driver is leasing 2,500 square feet on the top floor of the building for five years at $20 per square foot.

What : Five-year lease
Where : 115 W. 27th St.
How Big : 2,500 square feet
How Much : $20 per square foot
Landlord : Joel Berman
Landlord’s Representative : Self-represented
Tenant’s Representative : Sinvin Realty Corp.