Commercial Real Estate & Advisory
Commercial Real Estate & Advisory
Savills Studley has completed a relocation for AHRC NYC, a chapter of The Arc New York.
AHRC NYC is a not-for-profit committed to finding ways for people with intellectual and other developmental disabilities to build fuller lives.
Savills Studley represented the organization in securing a long-term lease for the entire 2nd and 3rd floors of 101 Norfolk Street totaling 15,820 s/f. AHRC NYC will relocate program space from 315 Hudson Street at the end of November.
The negotiated lease will provide the organization with its own dedicated entrance, lobby and elevator.
Savills Studley Vice Chairman Marc Shapses, Senior Managing Director Roi Shleifer and Assistant Director Seth Wasserman represented AHRC NYC in the transaction.
The landlord, Delancey Norfolk, LLC, was represented by Christopher Owles and Randy Kornblatt of Sinvin Real Estate.
Said Shapses: “AHRC NYC was facing rent increases and retained Savills Studley nearly two years in advance of its existing lease expiration in an effort to secure its future and optimize resources. Because AHRC NYC was proactive, we had optimal time to survey the entire market and create a real estate solution that would satisfy all of the organization’s needs.”
101 Norfolk Street is located at the corner of Delancey Street and across the Street from the Essex Crossing development site.