Case Study: How NY Arts Program found twice the space for the same price
Founded in 1967, Wesleyan University’s NYAP is an off-campus domestic program providing students with opportunities in the arts and creative industries. The NYAP semester advances students’ creative and critical skills, and helps them define and launch on a professional path, which makes the Big Apple the ideal location for its aims.
The Challenge: Tight budget, tight space?
NY Arts Program knew they needed more space to accommodate their growing presence, but the budget was tight.
After scouring the market with multiple brokers, they started to wonder if they’d only be able to afford small spaces in the 1,000 SQ FT range.
Then they started looking for space with SquareFoot.
The Solution: A knowledgeable broker
NY Arts Program started working with James, a SquareFoot broker who was very optimistic they could find a space bigger than 1,000 SQ FT with their budget.
After just one tour of a few spaces, NY Arts Program shared James’ optimism. So much so, they wanted to work with him exclusively in finding their new space.
Ultimately, NY Arts Program did better than finding a bigger space at budget; they found one twice as big as the 1,000 SQ FT spaces they visited with other brokers.
They are now happily situated in a 2,100 SQ FT office in the famous Arts Building at 336 W 37th Street, on a 5-year term.
With plenty of room to grow, they won’t have to worry about looking for a new space for some time.
Keeping an open mind
It’s quite common to start limiting your search, without even realizing it, to spaces more modest than you can actually afford. The properties you visit early on in your search can have an especially large impact on your perception of the market throughout the rest of your search.
But with a knowledgeable broker and an open mind in, you’d be surprised at the range of spaces you can discover.