Apparel Manufacturer Adjmi Renews, Expands Garment District Offices
By Rey Mashayekhi April 11, 2018 4:51 pm
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Clothing designer and manufacturer Adjmi Apparel Group is renewing and expanding its office space at Adams & Co.’s 463 Seventh Avenue in the Garment District to nearly 48,000 square feet, Commercial Observer has learned.
In the first of two separate lease transactions, Adjmi’s Consolidated Children’s Apparel division signed a 10-year deal to renew its 23,785 square feet of space across the entire fourth floor of the 22-story, 479,000-square-foot building at the northeast corner of West 35th Street, according to sources.
The division, which wholesale manufactures children’s apparel, has occupied the space for 10 years and uses it to house a showroom as well as offices. The renewed lease will commence at the beginning of next year.
Additionally, another Adjmi subsidiary, activewear designer IFG Corporation, will be moving its offices to occupy the entire fifth floor of the building, also spanning 23,785 square feet. IFG signed a 10-and-a-half-year lease that will commence this July, and is slated to relocate that month from its current offices at Empire State Realty Trust’s 1400 Broadway, sources said.
The fifth-floor space was previously occupied by fellow apparel manufacturer David Peyser Sportswear, which consolidated operations at Adams’ 4 Bryant Park after expanding its footprint at that property by 14,000 square feet earlier this year.
Asking rent in both 463 Seventh Avenue deals was $52 per square foot, sources said. Adams & Co.’s David Levy represented the landlord in-house, while brokerage Benchmark Properties represented both tenants.
In a statement, Levy said 463 Seventh Avenue has proven “appealing for design and innovation-minded tenants looking to attract top talent in and around Manhattan”—citing the property’s transit-centered location, recently upgraded lobby and improvements to its elevator and security systems.
Representatives for Benchmark Properties did not return a request for comment.
Other office tenants at 463 Seventh Avenue include NewYork-Presbyterian Hospital and fashion industry consultancy The Doneger Group.
