Legal Services Firm Inks Direct Garment District Expansion
Court recording and legal services firm David Feldman Worldwide will expand from a subleased space at the Kaufman Organization‘s 450 Seventh Avenue through a five-year, 6,550-square-foot lease on the fifth floor of the building that’s one block north of Madison Square Garden between West 34th Street and West 35th Street, Commercial Observer has learned.
The landlords will accommodate the move by combining the company’s current 4,077-square-foot space with an adjacent unit at the building where asking rents run in the $50s. This shows the utility of the asset’s location, said Barbara Raskob, director of leasing for the Kaufman Organization.
“As a subtenant at 450 Seventh Avenue for a number of years, DFW has found the building’s central location to be ideal for deploying its employees to different areas in the region,” Ms. Raskob said in a prepared statement. “Access to mass transportation hubs like Penn Station, the Path and numerous MTA lines provides the company with the ability to best serve its clients.”
Ms. Raskob represented the landlord in-house while John Johnson of Savills Studley represented the tenant in the negotiations.
Representatives for Savills Studley didn’t immediately respond to a request for comment.
The 46-story, art deco Nelson Building also boasts tenants like the MTA, health care management consultants DGA Partners and information technology and software provider InfoPeople Corporation. Language translation service company Morningside Translations also recently inked an expansion at the property.