Not-for-profit leases new 26,000 s/f HQ - Brief Article

Real Estate Weekly, March 10, 2004

GVA Williams represented United Cerebral Palsy (UCP) of New York State in its leasing of the entire 15th floor of 26,000 square feet at 330 West 34th Street.

The not-for-profit organization will use the space as its New York City headquarters.

GVA Williams Senior Executive Managing Director Robert Tunis handled the transaction on behalf of UCP, which had occupied the building's 13th floor since the late 1980's

As the charity agency expanded, it looked for opportunities to reconfigure and upgrade its space, but wished to avoid the chaos inherent in reconstructing while in occupancy

As the not-for-profit organization was searching for an alternative location, another tenant in its current building downsized and the 15th floor became available.

GVA Williams seized the opportunity, leasing the space directly from Vornado Realty Trust, the building's owner.

Vornado also granted UCP a generous work letter and is currently constructing base building upgrades.

"Since UCP is a not-for-profit organization, we had to be conscious of finances," Tunis said.

"Although we looked at other alternatives, Vornado wanted to retain UCP, and offered a deal that was far more beneficial to them."

Vornado Realty was represented in-house by David Green and David Greenbaum.