Toto USA, the Americas division of the innovative, century-old manufacturer of toilets and other plumbing fixtures, will relocate its gallery and offices from 25 Mercer Street to 20 West 22nd Street this summer. The Kitakyushu, Japan-based company signed a 10-year lease for 7,865 square feet.
Asking rents range from mid $70s on the second floor to low $100’s on the ground floor of the 16-floor property.
“20 West 22nd Street provided Toto with the Flatiron presence they were looking to establish,” said Mark Tergesen of ABS Partners in a prepared statement. He and colleague Robert Kempner represented the tenant in the deal.
Mr. Tergesen referenced neighbors Restoration Hardware, Wolf Home, and Bed, Bath & Beyond as a sign the area is well-suited for the company.
“The Flatiron District is the home design capital of the world. The building [also] offered a floorplan that allowed Toto to have a ground-floor showroom, as well as an upper-level corporate office, all under one roof,” Mr. Tergesen said.
The company will occupy 4,276 square feet of showroom space on the ground floor, 1,362 square feet of storage space on the lower level and 2,227 square feet of office and showroom space on an upper level.
The landlord, 20 West 22nd Street Associates, LLC, comprised of a group ABS executives, was also represented by Mr. Tergesen and Mr. Kempner with colleagues Jason Fein, Robert Finklestein and Dean Valentino.
The LEED-certified, 176,000-square-foot building between Fifth Avenue and Avenue of the Americas was built in 1911.