Bellmarc sheds corporate HQ

New York /
Jan.January 06, 2009 04:48 PM

Hoping to cut costs in the recession, Bellmarc Realty has closed its corporate headquarters at 352 Park Avenue South, between 25th and 26th streets, according to Neil Binder, the company’s co-founder.

Binder and other corporate personnel have moved from the Park Avenue South office into a branch office at 936 Broadway at 22nd Street, Binder said. The lease on the Park Avenue South space was up, he said, and the company decided to give it up in order to save money on overhead costs. There was extra space at the company’s Broadway office, he said.

In the current climate, “it’s prudent to think about what you can do to preserve your financial integrity,” Binder said.

The offices of Bellmarc Property Management, the building management branch of the business, also moved from Park Avenue South to Broadway, said Jo-Anne Sinnott, the company’s director of corporate communications.

In addition to The Broadway office, the company’s four other offices are located on the East and West sides, Midtown and Downtown. All are still open, Sinnott said.

While times have been tough, Binder said he’s optimistic about the future.

Since the New Year, the company is “seeing a significant improvement in the level of buyer activity,” he said. “We’re very hopeful.”

Bellmarc, founded by Binder and Marc Broxmeyer in 1979, has roughly 200 agents, Sinnott, the communications person, said.


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