David Peyser Sportswear Inc. Expands at 1071 AoA
Michael Ewing Dec. 6, 2013, 2 p.m.
David Peyser Sportswear Inc. has renewed its lease at 1071 Avenue of the Americas.
The manufacturer of high-end outerwear and sportswear will add 3,545 square feet on the 8th floor to its 14,000-square-foot occupancy on the 12th floor at Ten Seventy One Associates’ building, spanning a total of 17,545 square feet. The deal comes on the heels of the company’s growth and expansion efforts of its mens outwear brand, Weatherproof.
“This fashionable location has proven to be beneficial for David Peyser Sportswear and we are pleased that they are expanding,” said David Levy, a principal of Adams & Co. “1071 Avenue of the Americas is an extremely attractive building as it is located in the heart of a cultural center with stunning views of Bryant Park.”
The company also leases a larger, 24,000-square-foot office at nearby 463 Seventh Avenue, another property in Adams & Co.’s portfolio. The two offices are divided based on brands owned by the company. A gallery operates out of the space at 463 Seventh Avenue, and WeatherProof runs its general offices and showrooms out of 1071 Avenue of the Americas.
Mr. Levy was instrumental in representing both the landlord and the tenant in the transaction. Asking rents for the deal were upward of $56 per square foot.
“The Transit Triangle is the newest ‘hot’ area in the city,” added Mr. Levy.
Both 1071 Avenue and the Americas and 463 Seventh Avenue fall within the triangle and have been active with leasing to traditional garment tenants as well as creative companies. Recent leases include Comint Leather Goods Inc., Knoles & Carter, and Henry Doneger at 463 Seventh Avenue and David Geller Associates and Joseph Industries Inc. at 1071 Avenue of the Americas.