Lease Beat

Wholesale Distributor Takes Space at 48 West 37

Marais, a wholesale distributor of ladies handbags and accessories, has signed a 10-year, 5,052-square-foot new lease at 48 West 37th Street.

AdamsThe company, which asking rent was $39 per square foot, plans to use the space as general and executive offices as well as showroom space for their handbag and accessories company.

“Located in the center of the Garment District, 48 West 37th St. is a great location for Marais to further establish their handbags and accessories company,” said David Levy, principal, of Adams & Co., who represented the landlord, Forty Eight Thirty Seven Associates, in a statement.

 “The building is seeing a tremendous amount of activity and we are pleased that Marais chose to be part of our tenant list.”

Back in April Mr. Levy arranged the deal that expanded general contracting and construction management group Manhattan Business Interiors’ stake at the building to nearly 14,000 square feet, representing more than 25 percent of the building’s space.

Built in 1926, the 18-story, 57,750-square-foot-building features 24-hour access, new windows and notable office tenants ASI System Integration, John Murray Architects, Ismael Leyva Architects, and MBI.

Adams & Co. Real Estate is a full-service real estate firm specializing in property management, brokerage and consulting services, centered around the Garment District and managing a dozen properties including the Childrenswear Center at 34 West 33rd Street and the Contemporary Fashion Center at 231 West 39th Street.

Benchmark Group New York LLC represented Marais in the transaction. 

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