Home Furnishings Firm F. Schumacher Inks Deal for Entire SoHo Building
The firm signed a long-term lease for 26,000 square feet on the second and fifth floors of the property between Grand and Howard streets, also known as The Devlin Building, according to landlord broker Newmark. Asking rent was $75 per square foot.
F. Schumacher — which boasts clients like the White House and the United States Supreme Court Chambers — was founded in 1889 and has been headquartered at 875 Avenue of the Americas since 2015, as CO previously reported. Its new deal will give it the entire office portion of the five-story property — which has ground-floor retail — along with a newly built roof deck (increasingly becoming a must-have amenity for tenants), Newmark said.
“The successful leasing of the property to a long-standing New York brand like F. Schumacher & Co. speaks volumes to the demand for boutique office users looking for top-quality space in SoHo,” Newmark’s Howard Kesseler, who represented landlord the Chetrit Organization along with Alexander Kesseler, said in a statement.
Sinvin’s Christopher Owles, Randy Kornblatt and James Costello handled the deal for F. Schumacher. Owles did not immediately provide a comment.
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