Textile Firm Delta Galil Renews 50K-SF Renews at Morgan Stanley’s 2 Park Avenue
Clothing companies LT Apparel Group and Essential Brands inked new deals in the tower.
Textile firm Delta Galil and apparel companies LT Apparel Group and Essential Brands signed leases totaling 92,000 square feet at the Morgan Stanley-owned 2 Park Avenue, according to landlord broker Cushman & Wakefield.
Tel Aviv-based Delta Galil renewed its 50,000-square-foot offices on the entire 17th floor of the 28-story building between East 32nd and East 33rd streets, C&W said. The company has been in the tower since 2014, when it signed a sublease with cosmetics manufacturer Coty, as Commercial Observer previously reported.
Delta Galil was represented by Lance Korman, Brian Waterman and David Berke of Newmark. Representatives for Newmark and Delta Galil did not respond to requests for comment.
LT Apparel Group — which owns Adidas kids, Carhartt kids and its own brand, French Toast — signed a lease for 26,000 square feet on the entire 19th floor of the building. LT was represented by Amanda Bokman of JLL and David Menaged of Intrepid, who did not immediately provide comment. LT currently has its corporate offices at 100 West 33rd Street, according to its website.
Finally Essential Brands, a privately held apparel and soft home goods company, will occupy 16,000 square feet on the 18th floor of the building. The tenant was represented by Michael Beyda of Benchmark, who did not respond to a request for comment.
C&W’s Tara Stacom, Mitch Arkin, Peter Trivelas and Mike Tranfalia represented Morgan Stanley in the transactions. A spokesperson for C&W said asking rents were around $69 per square foot on the 17th and 18th floors and $78 per square foot on the 19th floor. Lease lengths were 10 to 15 years long.
“Two Park Avenue has always enjoyed broad appeal, as the building has large floor plates and straddles Midtown and Midtown South with great access to all the main transportation hubs,” Stacom said in a statement. “Our new amenities have proven especially powerful in our marketing efforts over the past several months. Between the tenant lounge with large outdoor space and conference center with rooms of varying sizes, we are able to appeal to tenants looking for dynamic ‘third places’ to offer employees.”
The building is currently undergoing renovations which include an amenity center with penthouse lounge, 4,000-square-foot outdoor terrace, coffee bar, wet bar, pool table, library area and multiple seating areas.
A large conference center is also being built on the ground floor and will feature a coffee bar, open seating, catering kitchen, a 28-person meeting room and a conference room that will seat more than 150 people, according to C&W.
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