Philip Sprayregen
Managing Principal, Sprayregen Real Estate Advisors LLC
New York, NY 10065
Philip is the Managing Principle
Phone (212) 535-1107
Philip is the Managing Principle
Specialties
Investment Sales Broker, Landlord Rep
Property Types
Office, Retail, Multifamily
Markets
New York City
Languages
English
Bio
Philip R. Sprayregen began his career in the mid 1970’s. Prior to forming Sprayregen Real Estate Advisors, he spent five years at a boutique firm and eighteen years at CB Richard Ellis, where he was one of the most sought-after professionals, a perennial Top Producer, and two-times Number One Producer Worldwide. Mr. Sprayregen is also a Two-Time Nominee for the Real Estate Board of NY's "Most Ingenious Deal of the Year Award".
Tenant Advocacy has been his passion since early in his career-- which was “the path less travelled.” Mr. Sprayregen has exclusively represented tenants in the metropolitan area and has conducted many national, multi-market, and international assignments for financial services firms, law firms, non-profits and tech companies. He has conceived and negotiated advance lease renewals, excess space depositions, and net leaseholds positions.
His technique utilizes financial engineering or "restructuring of a lease" in order to enhance a company’s financial position from a tax and balance sheet perspective. He goal is to structure a transaction that best suits his clients’ needs. His transactions often incorporate options, such as sublet/assignment, expansion/contraction and renewal/cancellation rights that maximize the Tenant’s flexibility. Mr. Sprayregen has negotiated leases that include tenant equity participation. Assignments have included analyses and negotiation of State and Local Government Incentive Packages that derived added value.
Mr. Sprayregen’s expertise in Tenant Advocacy was increasingly at odds with the inherent conflicts of the “assembly line” approach of large real estate firms, whose allegiance to Landlords must be exploited in order to prosper. SA is a boutique firm of industry leaders, a firm without conflicts of interest, and a firm that prizes integrity, intelligence, cooperation and focused effort on each client’s behalf. He takes an aggressive, intelligent approach in representing corporate space users, in an environment that maximizes his effectiveness for them. In the past year alone, Mr. Sprayregen has represented tenants in office lease transactions totaling millions of square feet.
Mr. Sprayregen who has maintained longstanding relationships with such clients as Morgan Stanley, Northwestern Mutual Life, Nike and Ropes & Gray exemplifies this tradition of personal service.
As owners and as fiduciaries of commercial real estate, Mr. Sprayregen has successfully undertaken assignments as Asset Managers for over twenty years. The average return on investment has been in access of 15%.
Education
Affiliations
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