“It’s just one of the coolest areas and people want to be there,” said Brian Waterman, an executive at the brokerage firm Newmark (NMRK) Knight Frank who, along with Newmark colleagues Michael Dreizen and Jimmy Kuhn, represented building landlord Stellar Management in the deal. “There is such a high demand for this kind of product in the neighborhood.”
Mr. Waterman said he knew he had a shot at retaining Chandler Chicco months ago when a tenant decided to vacate the building.
“Space opened up that I could market to them, which was great because I knew they were interested in expanding,” Mr. Waterman said.
The building is now fully leased.
About a block from where the popular High Line elevated park begins, 450 West 15th Street sits between Ninth and 10th avenues. The building is also only blocks from Chelsea Market, a property that is considered a destination in the area for shopping and food.
The property’s most prominent tenant is Milk Studios, a well-known high-end photography and post-production studio. Other tenants include the Italian shoemaker Tod’s, the English fashion goods maker Mulberry, the fashion company Jeffrey and the art auctioneer Philips De Pury.
“Many of our tenants, including inVentiv, pioneered this neighborhood and we were excited that they decided to renew and expand at the building and remain a part of this vibrant, budding community,” Ryan Jackson, an executive at Stellar Management, said in a statement issued by the firm.
“Meatpacking isn’t just a trend—it’s a mainstay,” added Mr. Jackson. “It’s quintessential New York.”
DGeiger@Observer.com
