Menswear Company, Risk Management Nonprofit Ink 27K SF in Leases at 1407 Bway
Landlord Shorenstein Properties has snagged an upscale men’s clothier and a risk management nonprofit group as two new tenants spanning 26,580 square feet at 1407 Broadway in the Garment District, according to CBRE (CBRE).
David Donahue, which produces dress shirts, ties and sport coats, has leased 13,735 square feet for 10 years on the entire 32nd floor of the 43-story office tower. The firm will relocate from nearby 141 West 36th Street. Corey Abdo of Coldwell Banker Commercial Advisors represented the clothing maker. Abdo didn’t immediately provide a comment.
In the second deal, the Risk Insurance Management Society took 12,845 square feet on the entire 29th floor of the office tower between West 38th and West 39th Streets. The nonprofit, which is “dedicated to educating, engaging and advocating for the global risk community,” will move from 5 Bryant Park. CBRE’s Laurence Briody and Brad Auerbach, along with Brad Needleman of Newmark (NMRK) Knight Frank, represented the tenant. A spokesman for NKF didn’t immediately respond to a request for comment.
Asking rent for both spaces was in the mid-$60s per square foot. CBRE’s Peter Turchin, Gregg Rothkin, Brett Shannon, Ben Fastenberg, Keith Caggiano, Ross Zimbalist handled both transactions for Shorenstein Properties.
“1407 Broadway is a highly flexible property with a very desirable location,” said Turchin in a prepared statement. “David Donahue sought high-quality office and showroom space reflective of their brand, and [Risk Insurance Management Society] was able to accommodate all of their employees onto a smaller, more efficient full floor.”
The 1.1-million-square-foot office tower recently got a $30 million renovation that included a new lobby, an upgraded facade and new retail and elevators. Over the course of the past year and a half, the building’s ground floor has acquired a roster of new retail tenants, like Mighty Quinn’s, Gregory’s Coffee, Juice Generation, Wells Fargo (WFC), Num Pang and Dig Inn.