JeffreyGroup, a communications agency headquartered in Miami with offices throughout the Americas, needed to relocate its New York office due to an expiring lease. Their current space was inefficient and did not fit their international image. UGL Services helped locate a new 2,600 square foot penthouse suite in Midtown Manhattan at One Grand Central Place that provided an elegant, light-filled space to promote creativity at 30% below market rates for similar spaces, fulfilling JeffreyGroup's needs within budget.

1. Relocation
Location: New York, N.Y.
Size: RSF 2,600
Client Since: 2011
Challenge
Founded in 1993, JeffreyGroup is the leading independent communications agency helping businesses engage Latin
audiences throughout the Americas. Headquartered in Miami Beach, FL, with offices in New York, Mexico City, Sao Paulo
and Buenos Aires, JeffreyGroup employs more than 100 people in five offices.
JeffreyGroup’s location in New York had a lease expiration coming up at 295 Madison Avenue and they were faced with the
following dilemmas:
■ Current space did not properly accommodate their needs – inefficient layout, inadequate size and cosmetic and
building mechanical issues
■ Current location did not adequately fit the firm’s international image
■ Client wanted a flagship NYC location that was unique, high profile, inspiring and promoted creative collaboration,
while being fiscally responsible
To this end, JeffreyGroup engaged the UGL Services team led by John Pavone and Stella Shwartsman to develop and
evaluate potential relocation scenarios for the firm, these included:
■ Increasing the client’s awareness of the current trends of the Manhattan real estate market and its respective
submarkets
■ Developing a strategy to take advantage of a soft Manhattan market to reduce total cost of occupancy, and locate
options that required little capital expenditure
■ Determining optimal amount of space needed through using workplace integration strategies
■ Locating high profile, unique spaces that met the client’s parameters
S olutions
The team located several suitable options in the Grand Central and Flatiron submarkets. After thorough evaluation, they
focused on an above standard built, wired and furnished penthouse suite on the 53
rd
floor of 60 E 42
nd
Street, a/k/a/ One
Grand Central Place. The 2,600 RSF space included a large open floor plan, elegant glass conference rooms, high ceilings,
and large windows letting in an abundance of light, with expansive and panoramic views of Manhattan; all the features
JeffreyGroup desired to promote a creative atmosphere and establish a prominent New York City flagship office. In addition,
this suite was priced 30% below other comparable penthouse floors in Midtown.
Benefits
Key benefits to the client included:
■ Secured high-profile, flagship location within firm’s budget
■ A creative, open layout more conducive for a media communications firm’s operations
■ Limited capital expenditure needed from client; space acquired was built, wired and furnished – client was able to
take advantage of an existing $200 per sq. ft. installation
■ Rental Rate 30% below the market for similar penthouse space