Debt Relief Services Company Subleasing 50K SF From Condé Nast in Midtown East
Lauren Elkies Schram Jan. 29, 2016, 10 a.m.
Strategic Financial Solutions, a company that provides financial options for debtors, has found new digs in Midtown East, Commercial Observer has learned.
The firm, which was founded in 2007, is moving to 49,731 square feet spanning the entire sixth floor at SL Green Realty Corp.’s 20-story, 583,000-square-foot 711 Third Avenue between East 44th and East 45th Streets, according to the subtenant’s broker, MHP Real Estate Services. The space is leased to Condé Nast.
Strategic Financial Solutions, currently based at 225 West 39th Street between Seventh and Eighth Avenues, is slated to move into Condé Nast’s quarters in May, according to a spokesman for MHP, who declined to cite the terms of the deal. According to a source with knowledge of the transaction, the asking rent was in the mid-$40s per square foot and the lease is five years.
MHP’s Joe Friedman represented Strategic Financial Solutions and Peter Gross of Douglas Elliman represented Condé Nast in the deal. Mr. Gross didn’t immediately respond to a request for comment and nor did a representative for Condé Nast.
Strategic Financial Solutions’ outside representative said via email: “Their CEO just got back into town. He confirmed that the company is moving into that new location. Moving into the bigger space, because the company is doing well and growing.”
As CO reported last April, Children’s Aid Society took 29,240 square feet of Condé Nast’s space at 711 Third Avenue for its new headquarters. The nonprofit signed a five-plus-year sublease for 29,240 square feet of office space on a portion of the seventh floor.