Stargate Apparel To Stay at 231 West 39th
Daniel Edward Rosen April 30, 2012, 9 a.m.
Stargate Apparel will continue to call 231 West 39th Street home.
With its seven-year lease for its 7,300 square foot space coming to an end, Stargate Apparel negotiated a deal with building owner, 231/249 West 39 Street Associates, to extend the lease for another seven years.
The company also got a bump in its square footage in the deal, increasing its space to 9,000 square feet at $35 per square foot.Stargate Apparel Inc, founded in 1995, started off in childrenswear and has expanded to womenswear and swimwear. The company controls multiple aspects of assembly, from designing to manufacturing, and maintains its headquarters and showroom on the 5th floor of 231 West 39th Street.
The building, located in the the Garment District, is most notably known as the Contemporary Fashion Center. Tenants include Between the Notes, Christian Audiger Luggage, and assorted departments under Ed Hardy.
“The deal is a testament to the building and the garment district,” James Buslik of Adams & Co. told Crain’s about the deal. “It’s a strong company staying in the area.”
Mr. Buslik and his son, Jeff Buslik, were the exclusive brokers for both the tenant and the landlord in the transaction.
Adams & Co. is a real estate firm whose specialities range from property management, brokerage, and consulting services. Its portfolio boasts over a dozen properties including 1011 Avenue of the Americas and 10 West 33rd Street.
Stargate Apparel has licensing agreements with St. Tropez, a swimsuit maker, and Baby Buns, a baby and toddler swimsuit company.