Jupitermedia
New York, NY
19,500 SF
CresaPartners New York
Client Objectives
Jupitermedia's objective was to integrate the newly acquired company, Mediabistro, into their existing business and to enhance their current office space and work environment. Renovations were needed on the fourth floor space including additional workstations to match the existing custom-built workstations, paint, carpet, and an upgraded reception area. The ninth floor required a complete fit-out. The client wanted to demolish the entire existing space and renovate it to accommodate new conference rooms, a pantry, and a sound room. The most significant challenges were the tight schedule and maintaining occupancy of the existing staff on the fourth floor throughout the construction.
Result
The fourth floor space was renovated within a tight time frame while avoiding holdover penalties of Mediabistro’s existing location at 494 Broadway. CresaPartners was able to accommodate additional requests beyond the project scope while still maintaining the project schedule. By eliminating the permitting process for the fourth floor, the client saved on costs for the Building Department, architectural and engineering fees, and construction, saving them approximately 20%. CresaPartners developed a more efficient use of the fourth floor, avoiding the need to occupy two separate locations. In addition, CresaPartners secured a long-term lease renewal with the landlord that included a tenant improvement allowance that reduced the company’s out-of-pocket renovation costs.