Lease Beat

Herald Square Building 100 Percent Leased to Childrenswear Companies


Five childrenswear companies have committed to a total of 5,296 square feet at 34 West 33rd Street, according to a press release issued by Adams & Co., the firm that represented the building in these transactions.

“We’re 100 percent committed to leasing only to childrenswear to create the go-to location for the childrenswear market in New York,” said David Levy, the principal of Adams & Co. “Right now, there are 45 childrenswear companies in the building and the building is 100 percent leased.” Read More

Lease Beat

Adams & Co. Renewing up a Storm at World’s Tower Building

110 West 40th Street

With nearly a quarter of the tenant leases set to expire this year at the World’s Tower Building south of Times Square, Adams & Co. principal David Levy and broker Brett Maslin have already inked renewals for 16 of the 28 terminating lessees in the past two to three months, Commercial Observer has learned.

The Adams & Co. officials have represented both the tenants and the building’s ownership partnership of more than 60 people in transactions totaling around 30,000 square feet at the 125,000-square-foot terra cotta structure at 110 West 40th Street, Mr. Maslin said. Read More

Lease Beat

Law Firm Signs For Midtown East Space

33 East 33rd Street

The Jerry M. Feeney residential real estate law firm will expand into a space in the southern section of Midtown East through a five-year, 5,850-square-foot sublease at Elk Investors33 East 33rd Street, Adams & Co. and ABS Partners Real Estate announced today.

The firm will move from 303 Fifth Avenue to a space vacated by the Converge Direct marketing company with asking rents of $48 per square foot, said Alan Bonett of Adams & Co. Read More

Lease Beat

MTA Contractors Take Garment District Space

102 West 38th Street

Transit signal system installation company TC Electric has occupied the fourth floor of a group of investors’ Garment District building at 102 West 38th Street between Avenue of the Americas and Broadway through a five-year, 4,800-square-foot lease, Commercial Observer has learned.

The College Point, Queens-based company opened a ready-made office in the 9-story building with asking rents of $41 per square foot this summer, said Jeff Buslik of Adams & Co. Read More

Lease Beat

Infant Wear Store Signs For Tribeca Storefront

104 Franklin Street

Infant clothing designer and manufacturer Egg by Susan Lazar moved into a retail storefront at 104 Franklin Street in Tribeca at the start of the month through an 11-year, 2,200-square-foot lease, Commercial Observer has learned.

The space formerly occupied by the sales office of a nearby residential property that has asking rents of $120 per square foot offered the designer a favorable location in a neighborhood where shoppers grew familiar with a former pop-up shop the clothing store operated in the area, said Brett Maslin of Adams & Co. Read More

Lease Beat

Babyfair Renews in Garment District Showroom Space

34 West 33rd Street

Children’s wear company Babyfair signed a lease for five additional years starting after its current lease expires at the end of the year in its 9,820-square-foot showroom and office space on the 8th floor of Arcade Building Associates‘ 34 West 33rd Street property, Commercial Observer has learned.

The 12-floor structure, also known as the “Children’s Wear Building,” commands asking rents of $42 per square foot and features only tenants who make clothing for children and display it in showrooms for prospective retailers, said David Levy, the principal of Adams & Co. Read More

Lease Beat

Apparel Business Moves to 231 West 39th Street

231 West 39th Street.

GMC Mercantile Corp. has signed a new seven-year lease for a 9,153-square-foot portion of the sixth floor of 231 West 39th Street, Commercial Observer has learned.

The apparel business has relocated from 148 West 37th Street, according to Jeff Buslik of Adam & Co., who represented both the tenant and the landlord, 231/249 West 39 Street Associates, alongside his father, James Buslik. Asking rent for the space was $40 per square foot. Read More

Lease Beat

Jacobs Asset Management Renews, Expands at 11 East 26th Street

11 East 26th Street

Jacobs Asset Management has signed a six-year-four-month renewal and expansion at 11 East 26th Street, Commercial Observer has learned.

The financial services firm has renewed its existing 3,865-square-foot space on the 19th floor and expanded into a newly vacant and contiguous 2,137-square-foot space. Jacobs Asset Management has been a tenant in the building since 2010 and now occupies approximately half of the 19th floor. Read More

Lease Beat

Creative Agency Relocates to 42 West 39th Street

42 West 39th Street. (PropertyShark)

Creative agency 87AM has signed a two-year-10-month sublease from Perry Ellis at 42 West 39th Street, Commercial Observer has learned.

The tenant moved in to its new 10,092-square-foot space on the fourth floor of the building in April. 87AM had previously been based at 321 West 44th Street and in addition to New York, operates offices in Chicago, Las Vegas and Los Angeles. Read More

Lease Beat

Ellen DeGeneres’ New Brand Inks Lease at 121 East 24th Street

121 East 24th Street. (PropertyShark)

E.D., the newly launched lifestyle brand, has signed a five-year lease for the entire 5,186-square-foot 11th floor of 121 East 24th Street, Commercial Observer has learned.

The brand is a joint partnership between entertainer Ellen DeGeneres and J. Christopher Burch, the founder of C. Wonder and chief executive of Burch Creative Capital. E.D. will offer products in a number of categories, including home, ready-to-wear, accessories and pets, according to a press release announcing the brand’s launch. Read More

Lease Beat

Three New Tenants in at 102 West 38th Street

102 West 38th Street. (PropertyShark)

Landlord 38 & 6 Associates has signed three new tenants to deals at 102 West 38th Street, Commercial Observer has learned. The deals are indicative of a trend driving tenants toward better pricing and more accessible locations, according to Jeff Buslik of Adams & Co., the landlord’s broker.

“The building is equidistant from Penn Station, Port Authority and Grand Central, so if you have staff commuting from out of the city it’s ideal location-wise,” he said. Read More

Lease Beat

DuPont Inks Flatiron Showroom Lease

49 West 23rd Street. (PropertyShark)

DuPont has signed a four-year-three-month lease for a 5,594-square-foot showroom space at 49 West 23rd Street, where the company is showcasing its Corian Solid Surfaces product.

“49 West 23rd Street is an ideal location for [DuPont] to open their first New York City showroom” said James Buslik of Adams & Co., in a prepared statement. “Only one block away from the Flatiron Building, this full third-floor will provide adequate space for the established company.” Read More