Core expands beyond its core location
Core Group Marketing is slated to build out its second office at the glassy condo tower Yves Chelsea rising at 166 West 18th Street.
The permanent space on the tower’s ground floor and lower level will be “right in the heart of Chelsea which is where we have one of our stronger markets,” said Jack Cayre, who co-founded the boutique real estate sales and marketing firm with CEO Shaun Osher.
Along with marketing new development projects in the area, Core has done plenty of buyer and seller rep business in Chelsea, including selling a handful of units in Yves. Magnum Real Estate Group is developing the 14-story luxury building and Cantor Pecorella is its exclusive sales and marketing firm.
“We thought it would be a good way to grow our presence,” Cayre said.
Core, which has 45 agents, signed a 10-year lease for the 4,000-square-foot space in Yves, which is on Seventh Avenue. Cayre would not indicate the rent. The retail office will house around 40 agents, mostly new hires.
“We’re going to need another place for them,” Cayre said.
Cayre will keep his own office in the company’s 10,000-square-foot main office on the ninth floor of 417 Fifth Avenue, between 37th and 38th streets.
Once the Yves developer turns over the space to Core, the company will start renovations, with a goal of setting up the office by the end of the year.