ESG arranges Midtown expansion.In a major Midtown Manhattan relocation, the prestigious New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of advertising agency FCB/Leber Katz Partners, has signed a 177,000 square-foot lease at 150 East 42nd Street. The new long-term lease, which represents a 28 percent increase in the ad agency's operating space, was arranged by the Edward S. Gordon Company, Inc. (ESG ESG Enterprise Strategy Group (Veritas) ESG Emergency Shelter Grant (Florida, USA) ESG Expeditionary Strike Group ESG Electronic Service Guide (used in DVB) ). FCB/Leber Katz Partners, one of New York City's leading advertising firms, will relocate approximately 600 employees from its previous location, 767 Fifth Avenue, in the middle of 1995. The new location on 42nd Street, widely known as the former Mobil Building, is a 42-story, Class A building in the heart of Midtown. The new commitment will be a harbinger for leasing the remainder of the 1.6 million square foot building, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. ESG's Michael R. Laginestra, executive managing director. Prior to the FCB/Leber Katz lease, the building stood predominantly vacant, housing only the law firm of Wilson, Elser, Moskowitz, Edelman & Dicker dick·er intr.v. dick·ered, dick·er·ing, dick·ers To bargain; barter. n. The act or process of bargaining. , which occupies 155,000 square feet, and the Mobil Corporation, which occupies 20,000 square feet. The ESG team which negotiated the transaction on behalf of FCB/Leber Katz included Laginestra, I. Keith Ellis Keith Ian Ellis, bass player with The Koobas, The Misunderstood, Juicy Lucy and founder member of Van Der Graaf Generator in Boxer 1975 with Mike Patto and Ollie Halsall. He died while on tour with Iron Butterfly in Germany in 1978 External links
"The new lease benefitted both tenant and landlord," said Ellis. "FCB/Leber Katz was able to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. competitive rents while securing Class A space in a prime location. Similarly, ownership benefitted by landing a prestigious tenant for the foreseeable future." |
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