Case Study Weisberg, Friedman, & Klapisch
Space 2,800 sq. ft.
Type Law firm
Location 17 Battery Place South
With an impending lease expiration and skyrocketing renewal rates, Weisberg, Friedman, & Klapisch immigration law firm came to Vicus Partners with a mission they weren’t sure could be accomplished. After 10 years in the same space, they needed a new space that dually satisfied internal needs—4 offices, law firm build-out, excellent light, and no mechanical noise—and client expectations—balancing class without extravagance, modern aesthetic with traditional use, and highly accessible to foot traffic. The catch was that they wanted this at a price that did not exceed what they currently paid—for a lease signed 10 years ago.
That’s where Vicus Partners came in.
We knew immediately the right place for them was Downtown Manhattan, which boasted the most undervalued rental rates and an up-and-coming cultural and corporate scene. Not only were we able to negotiate favorable pricing that did not exceed the rent in their current space, but we also took advantage of the downtown tax incentive, a discount of $10 / SF for the first 5 years. All this in an impressive building with views of the Statue of Liberty.
The next challenge soon presented itself: the raw space had not yet been built out. Build-outs can be time consuming and costly unless a landlord is motivated to take it on. To do this, we leveraged their small tenant status, emphasizing that they were low risk, financially stable, and amenable to a long-term stay.
We negotiated a build-out to their specifications completely funded by the landlord, and 3 months of free rent. At the end of the day, Weisberg, Friedman, and Klapisch’s attorneys transitioned smoothly into a great space and a favorable bottom line. Mission accomplished.
Where They Are Now
The company now occupies 2,800 square feet at 17 Battery Place.
We would love to be a resource for you. For more information, please call Andrew Stein at 212-880-3745 or Bert Rosenblatt at 212-880-3746.