Miami firm finds home, sweet home in Soho

Real Estate Weekly, Jan 26, 2005

Bermello, Ajamil & Partners (B&A), the Miami-based firm contracted to redevelop Manhattan's and Brooklyn's cruise terminals by the City of New York, has signed a lease in Soho for a 5,000 s/f full-floor loft, according to Ralph Trionfo, president of Upside Ventures, whom B&A hired as their exclusive tenant rep.

The five-year lease at 532 Broadway is valued at an aggregate rental of $675,000. Ron Rivellini of Soho Properties represented the landlord.

B&A, who helped sculpt the Miami skyline, is one of the largest international architecture and design firms.

Upon receiving the contract from the City of New York, B&A decided to open a New York office to more actively pursue work in the tri-state area.

Upside Ventures was given the exclusive assignment to find quality office space in Manhattan for B&A's New York office and living quarters for key executives who would head their New York operations.

"I've been doing business in South Florida for years and have a long-standing relationship with B&A," said Trionfo. "We're excited to help them establish a New York presence and assist with their new business development efforts."

According to Trionfo, B&A had specific requirements to follow in keeping with their image: The building had to be well maintained, the space light and airy, and the location easily accessible to transportation.

"After an exhaustive search that included tours of over 40 sites in various markets, we focused our search in Soho," said Trionfo. "We chose the Soho site as the 'best creative environment' for B&A's cur rent and future needs.

"We looked for a space that is unfinished and wide open so they could create a unique loft that reflects their sense of style and design," said Trionfo. "Having a presence on Broadway in Soho, one of the hottest areas in Manhattan, is also very appealing to the tenant; and at $27 per square foot, it's a great deal."

Once Upside found the right space, Trionfo worked closely with the owners and the tenant's counsel to negotiate the terms of the lease which was finalized in just nine days.

"Ralph did an excellent job for us, and his market knowledge and diligence paid off," said Rai Fernandez, senior vice president and partner at B&A, heading up the New York office. "We are excited about our New York offices and the deal he was able to make on our behalf. He not only delivers, but he stays with you all the way."

Upside Ventures is also assisting B&A in the build-out of the loft to get their office up and running as quickly as possible.

"We guide clients like B&A with the entire relocation process, from identifying quality space that matches their needs and negotiating favorable terms to sending out bids to various contractors for the build out of the space," said Trionfo.

"We even managed to find their executive a wonderful apartment with views of Central Park in just one day," said Trionfo. "It's all about building relationships and personal service. The tenant needs to get the office staffed and operational without delay, so we're doing what we can to assist."