Washington Square Partners (WSP) is leading the effort to redevelop the Forward and Workmen's Circle Building located on 33rd Street at Park Avenue in Manhattan. WSP and Arch Brokerage, an affiliated company, have worked to facilitate all aspects of this ambitious redevelopment of the headquarters of the Forward and Workmen's Circle, a not-for-profit newspaper publisher and community organization, into a 300-room hotel.

Washington Square Partners completed a zoning and highest and best use analysis to identify a hotel as the highest and best use of the site. After completing this analysis, WSP formulated a strategy to relocate the Forward and Workmen's Circle's operations to a building that better matches its current needs. In order to illustrate the impact of redevelopment and relocation options to the client, WSP created a net revenue benefits matrix. This benefits matrix assisted the Forward and Workmen's Circle in moving forward with the decision to relocate. In maximizing its real estate asset, the Forward and Workmen's Circle is able to focus on its core mission of serving its community. On the redevelopment side, WSP completed financial analysis, marketed the project, interviewed and selected a preferred developer for the site, and has served as the liaison with architects and engineers for the project

KEY ELEMENTS:

• Zoning and Financial Analysis
• Redevelopment and Relocation
• Project Management