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Mr. Schneck, you recently closed a deal for the National Institute for the Psychotherapies Training Institute (NIP) at 250 West 57th Street for 13,900 square feet. What made you decide to show this property to NIP?
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DS: First, it was in the geographical area where NIP wanted to be. They're currently based in this area, and most of their clients are also based there. Second, the building has several attractive features – the lobby, which was recently renovated, is inviting, the space has light and air in abundance, and the elevators are fast and refurbished. Third, the management is professional and responsive.
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What were some of the factors underlying NIP's decision to sign?
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DS: NIP wanted space on a fairly low floor with good window light and growth potential, and the space at 250 West 57th met all of these criteria. Furthermore, we had the cooperation of ownership – they were willing to work with us. I don't think the great view of the Thanksgiving Day Parade occurred to NIP, but it certainly occurred to me!
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How would you describe the leasing process?
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DS: All leasing processes are long, but in this case both parties were willing to compromise and respond quickly to make the deal happen.
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Do you have any comments about your experiences with W&H?
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DS: I found them quite agreeable to negotiation and compromise. They were very professional and hands-on. I don't think the great view of the Thanksgiving Day Parade occurred to NIP, but it certainly occurred to me!
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David Schneck (far right) accepts a commission check from Barry Zeller (left), a senior director at Cushman and Wakefield, the leasing and managing agent for 250 West 57th Street. Also pictured (center) is Leonard Zimmerman, a managing director at Grubb & Ellis, who worked on the deal with Mr. Schneck. W&H pays brokers 100% of their commissions upon lease signings.
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