When Conductor began evaluating its next office location, the company cast a wide net across Midtown South, touring approximately two dozen properties. The focus was clear: identify high-quality, built and furnished spaces with strong aesthetics, convenient access for employees, and compelling economics.While several options met these criteria, many required trade-offs—either in design quality, location efficiency, or overall cost once buildout and downtime were factored in.Ultimately, Conductor selected a fully built, plug-and-play sublease at 1359 Broadway.
This decision proved to be highly strategic. By leveraging a second-generation sublease instead of pursuing a direct lease with new construction, Conductor avoided the significant capital expenditure, time delays, and hidden costs typically associated with building out new space. The result was an immediate occupancy solution that aligned with both operational and financial objectives.
Over the course of the 7-year term, the benefits were compelling:
- Over $20 per RSF in savings relative to a direct lease
- Strong sublandlordExcellent ownership
- Total savings of ~$3.5 million just on rent.
In addition, the space came fully furnished, with existing furniture and fixtures valued at approximately $750,000, representing an immediate and tangible benefit with no additional capital outlay.Beyond the numbers, the space delivered on all key priorities—modern design, employee convenience, and speed to occupancy—without compromise.
This transaction underscores the value of a strategic, market-wide approach combined with a disciplined focus on uncovering hidden opportunities. By identifying and securing the right sublease, Conductor achieved a best-in-class outcome across cost, timing, and quality.
