Furniture-Maker Relocating South to Madison Avenue Digs [Updated]
Bernhardt Design, 126-year-old furniture company, will relocate its Big Apple offices to 136 Madison Avenue in Midtown South.
The North Carolina-based firm is taking 20,000 square feet, or the whole third floor, at the 17-story building between East 31st and East 32nd Streets, according to a Colliers International press release. Bernhardt Design signed a 10-year lease, and will use the space for both offices and a showroom.
Asking rent in the deal was $55 per square foot, according to CoStar. Bernhardt Design is moving from 58 West 40th Street between Avenue of the Americas and Fifth Avenue, according to The New York Post, which first reported news of the deal. The company is slated to move in pending a build out of the space.
Andrew Roos and Michael Cohen of Colliers represented the landlord, while Ed Wartels, Stephen Santoro and Jim Pirot of Cresa New York represented the tenant. A Cresa New York spokeswoman did not immediately respond to a request for comment.
“We are thrilled to welcome Bernhardt Design to the building,” Mr. Roos said in prepared remarks. “They are a world-class company, whose cachet and stability make them an ideal addition to our tenant roster.”
Mr. Santoro said in an email that Mr. Pirot took the company’s president and chief executive officer through several buildings before settling on the 136 Madison Avenue office. “Bernhardt was quickly outgrowing its former space and was in search of something that fell in line with their brand’s aesthetic,” he said.
Added Mr. Wartels: “The third floor at 136 Madison offered the size and, most importantly, the type of space that Bernhardt needed. The high ceilings and column spacing give a great depth to the full-floor space, which provides a unique flow throughout the office.”
Update: This story was edited to include comments from the tenant’s brokers and the full list of brokers.