611 W 15th St

Client’s Goal

• Purchase office space instead of continuing to pay rent to a building landlord.

Challenge

• After ECR assisted with subleasing their former office space, Richards Rodriguez & Skeith LLP worked out of a temporary solution while ECR was assisting in finding the ideal new location.
• The ideal new location would be a smaller space that could accommodate all of their employees while cutting costs, and building equity in a property.

Strategy

• ECR compiled, analyzed, and evaluated potential purchase options to help determine what the best long-term solution for the firm would be, and how it compares to a new lease.
• After touring and negotiating several potential options, it was determined that the best scenario would indeed be to purchase.

Results

• The client purchased the 6,000 SF property at 611 W 15th St after ECR successfully negotiated a very attractive sale price reduction in a market with low purchase inventory.