The Plan: Check Out SBFI’s New Showroom for Trading Desks
Jotham Sederstrom March 8, 2013, 10 a.m.
WHEN SBFI, a vendor of financial and control room furniture, sought to relocate its showroom space, company executives repeatedly found themselves touring a web of buildings associated with Randy Sherman, an executive managing director at Murray Hill Properties who also represents Rose Hill Properties Associates.
But it was a 12-story asset at 461 Park Avenue South that solidified the company’s decision to commit to Midtown South. Despite initial worries about high rent, officials at SBFI, which counts seven of the world’s 10 largest investment banks as clients, were persuaded to move from 701 Seventh Avenue earlier this year. The change of heart, said Mr. Sherman, an executive managing director at Murray Hill Properties who represented the landlord, occurred shortly after SBFI officials were shown a clearer picture of just how tight a market Midtown South had become—yet a newly renovated lobby at the 31st Street building may have clinched the deal.
Mr. Sherman reviewed the plans with The Commercial Observer and discussed what, exactly, drew SBFI to a 4,775-square-foot, 10th-floor office earlier this year after a lease-signing in July.