In 1998, the firm relocated the United Nations Office for Project Services (“UNOPS”) to the Chrysler Building, 405 Lexington Avenue. In 2000, it renewed the United Nations Population Fund (“UNFPA”) at 220 East 42nd Street.

405 Lexington Avenue - United Nations Office for Project Services ("UNOPS")

CABR acted as UNOPS’ exclusive broker in identifying a new location and negotiating a lease within a compressed twenty-week time period. CABR investigated over 164 potential options available for lease or purchase in Manhattan, Brooklyn, Queens, Westchester County and Jersey City, New Jersey, narrowing the field to a final list of four buildings, all in the immediate vicinity of the United Nations, and all of which met strict qualifying criteria.  A lease was eventually signed at 405 Lexington Avenue, The Chrysler Building, and achieved the following key benefits:

• Accommodated UNOPS on two contiguous floors, creating a better working environment by allowing professionals and staff to integrate
• Allowed UNOPS to remain in the immediate vicinity of the United Nations
• Locked in a favorable rental rate for fifteen years
• Allowed UNOPS to sign a lease without incurring hold over penalties

CABR continues to advise UNOPS on escalation statements.

220 East 42nd Street - United Nations Population Fund (“UNFPA”)

As exclusive Broker, CABR advised UNFPA on its leasing alternatives as its lease approached expiration.  CABR determined that a renewal at their existing location would be the most cost efficient solution, so long as the economic terms were competitive and certain base building conditions were addressed.  Renewal negotiations commenced during a period when market rents were moving increasingly higher.  In order to protect UNFPA from this trend and to insure that any renewal transaction was competitive, CABR obtained offers from alternative locations.  Ultimately, a long-term renewal lease at 220 East 42nd Street was signed at competitive rents, achieving the following key benefits:

• Secured the lowest rent and recurring real estate cost structure when compared to other buildings; favorable rent abatement period
• Allowed UNFPA to remain in the immediate vicinity of the United Nations
• Secured expansion options throughout the term of the lease
• Minimized UNFPA's capital costs through Landlord contributions to Tenant's improvements and upgrades to base building systems
• Reduced capital expenditures through the elimination of the security deposit

CABR continues to advise UNFPA on its expansion options and escalation statements.

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