Bernardo Fashions has signed a six-year, 11,000-square-foot lease renewal at The Outerwear Building at 463 Seventh Avenue, where landlord Arsenal Company is resisting an influx of creative tenants creeping into the Fashion Corridor from Midtown South, The Commercial Observer has learned.
“A lot of the buildings in the area are staying away from apparel, but we are embracing it – so for us it was important that we retain this tenant,” said David Levy of Adams & Company, who represented both parties in the transaction. “The whole transit triangle area is gaining a lot of momentum from more creative companies that are now heading towards our area from Midtown South.”
Asking rents were $44 per square foot for the space. The 22-story building has 24/7 access and security in addition to newly-renovated elevators and windows. Notable tenants include OSP Group, Henry Doneger Associates, ADJMI Apparel Group and J. Mendel, which host showrooms and offices throughout the building. Retail tenants include Federal Express, Andrew’s Coffee Shop.
Bernardo Fashions designs and sells outerwear for men and women. It serves customers through its retail stores. The company was founded in 1989 and is based in New York, New York with offices in London, United Kingdom; Hangzhou, China; and Hanoi, Vietnam.
The brand prides itself on creating “high quality, easy to care for garment with a high fashion twist… go-to pieces for the modern woman with an active lifestyle,” and this year extended the brand with a launch into the active wear market with Bernardo Active.
The nearly 480,000-square-foot building is located just steps from Penn Station, major subway lines, Macy’s, the Port Authority, the General Post Office, and Madison Square Garden. New tenants receive brand-new, double-glazed windows.
“The landlord keeps the property in impeccable condition,” Mr. Levy said, noting that HVAC, air conditioning and elevator systems are renovated and in tip-top shape.