NEW YORK – Cassidy Turley, a leading commercial real estate services provider in the U.S., negotiated four lease agreements on behalf of the Federation of Protestant Welfare Agencies (FPWA) for their landmark property at 281 Park Avenue South for approximately 11,000 square feet. The four new tenants included local and national not-for-profit organizations Points of Light, Boys Town New York, Volunteers of Legal Services (VOLS) and FoodCorps. Cassidy Turley’s David Lebenstein, Senior Managing Partner, Debra Wollens, Vice President, and Edward Kent, Associate, represented the building owner in all transactions.
David Lebenstein has represented the ownership of the building for over 15 years and continuously assisted FPWA with leasing surplus space to suitable not-for-profit groups. 281 Park Avenue South is located near Gramercy Park, the Flatiron Building and Union Square, and offers tenants access to a conference center and library area. The building is also real estate tax exempt, which allows it to be an economical real estate solution for not-for-profit organizations
“We are proud to have completed 12 transactions over the years for the Federation of Protestant Welfare Agencies. Their unique property offers tenants, specifically not-for-profit organizations, an innovative and affordable solution for office space in a beautiful landmarked building,” commented David Lebenstein, Senior Managing Partner, Cassidy Turley. “We matched compatible tenants to each space, offering them conference center accessibility for events and special programs and a convenient location in Midtown South.”
Points of Light, a leading volunteer organization with more than 20 years of history and a bipartisan presidential legacy, leased 4,800 square feet for its growing New York office. Organized into three divisions: Programs, Civic Incubator and Action Networks, the not-for-profit organization offers the largest network of 250 local volunteer centers across the world and encourages service and civic engagement to inspire healthy communities. Carri Lyon, Senior Director, Cushman & Wakefield represented Points of Light in the transaction.
Boys Town New York, a national developing youth and family services organization, has leased 3,510 square feet to house its New York offices. Opened in 1990, Boys Town New York offers hope and healing to troubled children and families through a variety of programs within its Integrated Continuum of Care serving a culturally diverse population of adolescents from all five boroughs of New York City. Through these many services and programs, Boys Town touches the lives of 63,000 children and families in New York City. Corey Abdo, Executive Vice President, Winoker Realty represented Boys Town New York in the transaction.
Volunteers of Legal Service leverages the good will, resources, and talents of some of New York City's best law firms to provide pro bono legal services to the cities neediest residents. Forced from their previous location in SoHo, VOLS had limited time to find an adequate office space and leased 1,890 square feet. The pro bono legal services organization engages 800 pro bono lawyers, contributing a total of 30,000 hours, a value of $7.5 million in legal feesper year to address critical community needs. Mr. Kent and Mr. Lebenstein also represented VOLS in the transaction.
FoodCorps, a national service organization that seeks to address childhood obesity by increasing vulnerable children’s knowledge of, engagement with, and access to healthy food, has leased 650 square feet. Service members build and tend school gardens, conduct nutrition education, and facilitate Farm to School programming that brings healthy, affordable local food into public schools. Mr. Lebenstein and Mr. Kent also represented FoodCorps in the transaction.
For more information on Cassidy Turley or the New York market, please visit: http://www.cassidyturley.com/.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,600 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2011, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside of North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.
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