Garibaldi Completes Over $8 Million in Midtown NYC Transactions
New York City, NY – September 21, 2015: New Jersey-based real estate firm, The Garibaldi Group/CORFAC International has had a flurry of recent activity in New York City, completing four assignments for over 17,500 square feet and totaling more than $8 million dollars in transactional value. All four deals were for Midtown Manhattan offices, with three out of the four tenants being from the financial industry.
The first and largest transaction was on behalf of Investor Bank who was looking to expand their -Manhattan presence from 4,200 square feet to 9,329 square feet in back-office operations. Taking into account the company’s strong desire to remain in Midtown East and in close proximity to Grand Central Station for the benefit of their employees, The Garibaldi Group was able to find the client a new home at the Chrysler East Building at 666 3rd Avenue with a 10-year lease term.
The second transaction was for Hatteras Press. The New Jersey-based printing company was in search of a new Manhattan sales office. Garibaldi was able to secure over 2,000 square feet of office space at 1350 Broadway, directly above Herald Square and less than four blocks away from Penn Station, providing a direct commute to and from their manufacturing plant in Eatontown, NJ.
The next transaction was on behalf of the Boston-headquartered firm LMCG Investments, previously Serenitas Capital which LMCG acquired during the search for new office space. The firm was looking to relocate its SoHo offices to be further uptown in the presence of other financial firms. Garibaldi was able to relocate them to 650 Fifth Avenue, where they are surrounded by banks and hedge funds with multiple transportation options for its clients and employees to access. Garibaldi negotiated a five-year lease term with ownership.
The final transaction was for ShoreBridge Capital Partners, a newly formed advisory and merchant banking firm looking to establish a New York City presence to help launch their business. Similar to many of the previously mentioned clients, ShoreBridge also wished to locate their office in Midtown, in close proximity to Grand Central Station and Penn Station for the benefit of their commuting staff, and to be near other financial firms and amenities. Garibaldi was able to find ShoreBridge over 4,000 square feet of office space at 780 3rd Avenue.
The Garibaldi Group team of Jim Garibaldi, Mike Witko and Kyle Mahoney represented Investors Bank, Hatteras Press and LMCG Investments, while the team of Jeff Garibaldi and Scott Garibaldi represented ShoreBridge Capital Partners.