In-Building Expansion With 10 East

Company: 10 East
Building: 10 East 53rd Street
Lease Term: 10+ years
Lease Type: In-building Expansion
Delivery conditions: 2nd Generation, Modification to suit
Size: Entire 28th floor (8,925 sq ft)
Landlord: SL Green

The Challenge

10 East, an exclusive private markets investment firm led by Michael J. Leffell, was facing a crucial need for expansion to support its growth over the next decade and beyond. Despite being satisfied with their current location, the firm required nearly double the space to accommodate their expanding operations. Their wish list was specific: they wanted to deal with a reputable landlord, secure a well located and high-quality space, and negotiate a deal that mirrored the perceived weakness of the broader office market.

The Solution

Fully understanding their needs, we launched an extensive search, reviewing over 50 potential spaces and engaging in negotiations for more than ten of them. The quest for the perfect space was rigorous and demanding. Eventually, a special situation two blocks north that was identified led to 10 East capitalizing their existing goodwill within their current building at 10 East 53rd Street, securing a lease for the entire 28th floor (8,925 sq ft) for a ten-year lease with newly built out space that on a higher floor.

The Outcome

10 East now enjoys a full-floor presence. This strategic expansion aligns seamlessly with their brand and the continuity to stay in the same location they have enjoyed since 2016.