The clothier signed a 10-year renewal for its 50,500-square-foot offices on the 18th to 20th floors of AB & Sons’ 23-story building, between West 39th and West 40th streets, Cresa said. Asking rent was $45 per square foot.
Outerstuff, which makes licensed apparel for the major sports leagues and colleges, first took 34,000 square feet in the building in 2011 and later expanded to 50,500, Commercial Observer previously reported.
With its lease set to expire, the company initially considered ditching Manhattan for Brooklyn or New Jersey but ultimately decided to stay put because it thought “Manhattan could facilitate the vision for its future successes,” Cresa’s Simeon Weber, who brokered the deal for Outerstuff, said in a statement.
“This deal is a win-win for all parties,” Weber added. “Outerstuff scored a favorable lease and the landlord was able to keep a major tenant in the building.”
Newmark’s Howard Kessler handled the deal for the landlord. A spokesperson for Newmark did not immediately respond to a request for comment.
Other tenants in the Isaac, Eli and Abraham Chetrit-owned 1412 Broadway include girls clothing manufacturer Kahn Luca Lancaster, security company Securitas and luxury women’s fashion designer Escada.
Nicholas Rizzi can be reached at firstname.lastname@example.org.