Architects Double Space at 265 West 37th
Tom Acitelli Aug. 25, 2011, 8:55 a.m.
Arte New York, the architectural and design firm, has signed a lease for 15,000 square feet at 265 West 37th Street. The 10-year deal, which was announced this week, will double the firm’s footprint at the building, which it moved into less than a year ago, according to brokers familiar with the transaction.
Asking rent at the fashion center building is about $30 a square foot, brokers said.
Marty Meyer, a vice chairman with Colliers International, represented the tenant, and the landlord, 265 West 37th Street LLC.
“Arte New York has doubled in size and wanted to remain in the building,” said Mr. Meyer, who added that the 250,000-square-foot building has attracted a number of other creative firms over the past several years, including art galleries as well as other architect and design groups. “The additional space accommodates the tenant’s goal of housing its larger workforce at one address, and in a ‘hip’ neighborhood, while also providing space for future growth.”