Our New Home
Dear friends,
Last year was one of significant change for the team at St. George’s Society of New York, including adjusting to our new operational conditions enforced by the pandemic, Anna’s departure after 11 years with SGSNY and my arrival as Executive Director. And our most recent development – the purchase of an office.
866 United Nations Plaza
The lease on our East 45th Street office was coming to an end so in October the SGSNY Board of Directors considered the options. The combination of a shift to flexible/remote working, the dip in Manhattan real estate value and the strength of the stock market and performance of our investment portfolio provided a once-in-a-generation opportunity for procuring a new permanent home.
After exploring available office spaces, with guidance from a small team of real estate professionals including Richard Sexton MBE and Marcus Rayner, it was agreed that 866 UN Plaza was a suitable location for our needs. There was a hard negotiation on the price and the sellers sweetened the deal with a reduction in price and the addition of a storage room.
With the approval of our Executive Committee, Cliff and I investigated financing. Cliff realized that securing a low-interest line of credit against our investment portfolio would be more economical than taking a mortgage. The Executive Committee, Finance Committee with the Board of Directors agreed to purchase the office space at 866 United Nations Plaza. Though smaller than our old office, our new location offers more modern facilities enabling the future growth of the Society. Additionally, it will afford a cost saving of over $5000 per month compared to renting our old office.
The purchase was finalized in November, and after discussing with the staff we agreed we could move out of our old office before the Christmas holidays and move to remote working. This saved approximately $25,000 in rent and other costs. A considerable effort was made to prepare for the move while delivering the heavy year-end business of wrapping-up the British Bash, delivering beneficiary gifts and end of year reconciliation payments and other operations. The team worked with a trusty group of volunteers to archive, shred and store materials against a very tight deadline while also navigating COVID-19 restrictions. Some items were sent to storage and archive – thanks Aiston Fine Arts – and merchandise, events equipment and documents were moved to 866 – thanks Sea & Air International.
The new office at 866 requires some renovation before it is move-in ready. A budget for this has been approved by the Board, and Alastair Standing and I are working with an architect on designs and construction plans. We hope to move by late spring, but this will depend on external factors such as permit approvals and any COVID-19 restrictions. Until then, our team is working remotely, and all mail is being directed to our temporary P.O. Box that is collected twice a week (parcels cannot be accepted at this time).
Our Temporary Address
P.O. Box 4469
New York, NY 10163-4469
I am extremely grateful to all those in our community that helped and guided this project volunteering time, expertise, and services. And I am hugely appreciative of the team for their flexibility and commitment during the move out and remote working. Thank you.
I am excited by this new beginning and will update you as move in date approaches. The team looks forward to inviting you to our new home when conditions allow.
Clare Risman
Executive Director