Mendik organizes unique Decorative Arts Center promotion.

In what may be the most innovative amenity enjoyed by a group of tenants in recent memory, The Mendik Company recently teamed with American Express and Departures Magazine to fill the halls of The Decorative Arts Center in Manhattan with some 900 high-net worth individuals, all with a special interest in furniture and interior design accessories.

Kicked off with a well-attended gala opening night onMarch 3, the exclusive "Timeless Treasures" exhibit is giving American Express Platinum card members a degree of access to the building's galleries, studios and collections usually reserved exclusively for the trade. By bringing this well-heeled group on premises to explore the wares of antique and decorative arts dealers, the event is presenting tenants with the opportunity to show a highly prestigious clientele the kinds of exquisite pieces available and generate greater understanding and enthusiasm for the entire field of interior design. To heighten interest further, tenants at DAC agreed for one month only to sell at preferential pricing to connoisseur card members who visit the building.

The story behind this innovative promotional program underscores the unusual benefits and possibilities available to real estate owners who successfully create single-industry properties based on target marketing programs.

The Decorative Arts Center is a 17story building at 305 East 63rd Street. The building has been owned and managed by The Mendik Company since 1959 and was among the first properties in New York marketed exclusively to the interior design industry. The 165,000 square-foot building, with its elegantly appointed lobby and common areas, distinctive showroom spaces and tuxedo-clad doorman, has proven extremely attractive to furniture and accessories dealers at the high-end of the market.

"We felt this was a true win-win situation for our tenants and the customers of American Express," said Barbara Fagan, manager of the Decorative Arts Center, who has helped oversee the development and arrangements for the event. "And of course we are delighted that American Express selected our building. It is a testament both to the strength of our tenant roster and our success in creating a truly unique property with its own raison d'etre and cachet."

Indeed, the event underscores the success The Mendik Company has had in positioning the Decorative Arts Center as the most prestigious address for the decorative arts trades. By attracting tenants like Cymann International, Yale R. Burge, Wood & Hogan, Nancy Corzine, Smith and Watson, ICF, John F. Saladino, Inc., PD Design Studio, REHS Galleries and Trouvailles, The Mendik Company has over the years transformed the building into an invaluable single-site trade resource that is on the must-visit list of buyers and interior designers around the world.

"The key to developing this property successfully has been listening carefully to our tenants," explains Fagan. "By being responsive and working to meet their needs, The Mendik Company has been able to identify and incorporate the features necessary to make this property the most user friendly, accessible and attractive interior design center in the industry."

And insofar as tenant liaison was concerned, the Timeless Treasures event was no exception to the rule, said Fagen. The idea for the promotion and first approach to American Express were initiated by a tenant. The Mendik Company was brought into the discussions early on and the rest of the DAC's tenants were canvassed for their reaction. In the end, 11 of the building's 14 tenants decided to participate. The showrooms took the lead in suggesting and organizing special events to support the promotion and played a key role in helping The Mendik Company put together a package that proved irresistible to American Express,

"This event has really been a joint event between us and our tenants," said Fagan. "Their enthusiasm and expertise combined with our willingness to mount a special event were the crucial elements in creating an entirely new kind of promotion, one that requires the active participation of the building owner in an effort to help tenants find new ways of doing business."