The East Side fabric and furniture staple Baranzelli Silk Surplus is on the move from 938 Third Avenue after signing a lease for 417 square feet at 238 East 58th Street.
Dean Valentino, a managing director at ABS Partners Real Estate, LLC represented the tenant and landlord.
“The owner made the decision to consolidate from the old space–which was a couple thousand square feet–and build its internet business as well as a more comfortable showroom for highlighted fabrics,” Mr. Valentino said.
This is the third deal ABS has brokered in twelve months on the Midtown East block between Second and Third Avenues and 58th and 59th Streets. Mr. Valentino also represented the landlord in a deal last month that brought Orogold Cosmetics to 118 East 57th Street.
Baranzelli’s new location puts it close to the Decoration & Design Building at 979 Third Avenue, a big draw for design, lighting and fixture stores. (Mr. Valentino brought the high-end Bibi Antiques and Lighting to 1,500 square feet at 231 East 58th Street last year.)
“That little section of 58th Street is its own niche market,” Mr. Valentino said. “It’s just a really good street, with not a lot of space available. When something comes up it gets a lot of attention.”
One neighborhood that’s not prospering like this slice of Midtown is the Garment District, which would have once seemed like a natural home for Baranzelli.
“My take on the Garment District is they’re not really sticking around there unless they want larger space and really do a lot of wholesaling rather than interior design,” Mr. Valentino said. “We’re starting to see restaurants and pubs there–really a change in what’s going on. This litte area has retained its design functionality more than the Garment District.”