Lease Beat

Point Zero Opens Showroom in New York

Courtesy of NYRej

Courtesy of NYRej

Point Zero has inked a 2,821-square-foot transaction to open a showroom and office in the Garment District.

Point Zero signed a deal for a new space at 231 West 39th Street, or the building known as the Contemporary Fashion Center.

The Canadian manufacturer of chic fashion forward apparel for men, women and children will join several notable tenants including Stargate Apparel, Inc., Destino Vero Designs and Apparel LLC, and Between the Notes LLC.

Based out of Canada, the company operates several boutiques around the world, notably in the Middle East. The New York showroom will be the first in the United States. Their aim, as stated on their website, is to open over 100 retail locations in the next three years.

James Buslik and Jeff Buslik, principals of Adams & Co., represented the landlord in the transaction, 231/249 West 39th Street. Schur Management Co. manages the building on behalf of the owner. A broker from Maxwelle New York represented the tenant.

The asking rent was $40 per square foot and the lease was set for five years.

The pair from Adams & Co. brokered several deals in conjunction with Point Zero, including a 1,354-square-foot lease for the Ntwrk Agency, a brand development and sales firm, and a 900-square-foot deal for Sportiqe LLC, an apparel company that merges sportswear with trend-driven designs. The latter two deals held asking rents slightly lower at $35 per square foot.

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