Leveraging their unmatched insight into the financial services market, CBRE’s Ben Friedland and Silvio Petriello partnered with three clients—GLG Partners, Cyrus Capital Partners and a confidential Hedge Fund client—in a unique triple play, securing significant value for all players. Each client was aiming to achieve different objectives: GLG needed to accommodate for growth and had its eye on specific high-end buildings; Cyrus desired built space that allowed for expansion, with minimal upfront investment; and the confidential client had high hopes to move, but faced challenges with its particular set of space requirements and current lease obligation.
Ben and Silvio orchestrated a complex and creative set of transactions that solved for each client’s needs in one cascading process. Tapping into strong relationships, the team uncovered a hidden floor for GLG at 390 Park Avenue and got the firm out of its remaining obligation with no additional cost so they could move immediately. Cyrus Capital was relocated from the hidden floor into ideal, move-in condition space at 399 Park Avenue, achieving room for growth along with a headache-free moving process. By securing Cyrus as the new tenant, the team was able to get the confidential client out of its obligation at 399 Park Avenue and relocate the firm into space that surpassed its requirements at 767 Fifth Avenue. After all of the moving pieces were shifted into place, CBRE was left with three extremely satisfied clients.