NEW YORK -- Cassidy Turley, a leading commercial real estate services provider in the U.S., closed a 10-year lease agreement with T. Schreiber Studio & Theater for approximately 10,500 square feet of space on 151 West 26th Street. Mark Furst, Managing Director, and David Lebenstein, Senior Managing Director, Principal of the Cassidy Turley not-for-profit practice, secured the additional space, as well as the lease renewal for the theater. The additional space will be used to expand the acting school’s current studio programs.
“We urgently needed to expand our studio space, but we did not want to relocate from our current address,” said Terry Schreiber, President and Founder. “We are thrilled that Cassidy Turley brokers were able to execute on exactly what we asked of them. They understood our needs and now we have a larger space that accommodates our students.”
T. Schreiber Studio & Theater is a nationally recognized acting school that provides classes to aspiring actors, as well as produces Off-Off Broadway performances. Cassidy Turley brokers worked with the landlord to secure a space that met the long-term growth plans and allowed for an expansion at reasonable rents.
“Because of T. Schreiber’s growing acting program and high demand for its collaborative methods of teaching and training, it was necessary for the theater to expand,” said David Lebenstein, Senior Managing Director, Principal and Leader of the Not-for-Profit Practice at Cassidy Turley. “The fact that the T. Schreiber acting school is growing during an economic recession is impressive. We understood, however, that it was necessary to secure improvements to the current space with minimal capital costs to the tenant. Our not-for-profit practice succeeded and saved the theater from any relocation costs.”
Louis Prisco of Colliers International represented the landlord, Abner Properties, in this transaction.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,400 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 $18 billion in 2010, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers 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. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.
About T. Schreiber Studio & Theater
The T. Schreiber Studio established in 1969, is recognized as one of the foremost professional theatre studios in New York City, devoted to the comprehensive training and development of actors in a supportive and collaborative environment.
The Studio’s ongoing classes are integrated into its annual season of productions, allowing the accomplished faculty to guide the growth of each artist from classroom to stage. The faculty of the Studio is composed of working professionals and established artists in theatre, film, and television, under the direction of Terry Schreiber.