Home Furnishings Manufacturer Maytex Mills Expands in Midtown South
Home furnishings maker Maytex Mills decided to grow its home at 261 Fifth Avenue, Commercial Observer has learned.
The company inked a seven-year deal to renew its existing 19,093-square-foot offices and add on another 5,460 square feet, bringing its total presence to 24,553 square feet on parts of the 16th through 18th floors of the 26-story building, according to landlord the Feil Organization. Asking rents at the property range from $60 to $80 per square foot.
After nearly two decades in the 405,000-square-foot building, Maytex wanted to “refresh” its offices and showroom and “were in need of more space,” said JLL’s Evan Margolin, who brokered the deal for Maytex along with Savills’ Zev Holzman.
A handful of other tenants have also increased their presence at the property between East 28th and East 29th streets in the last year, including lifestyle magazine Town & Country, women’s fashion designer Natori, architectural firm Flad Architects and advertising agency CultHealth, according to the landlord.
“It’s not just doom and gloom out there — there are tenants who are growing and expanding,” Andrew Wiener, Feil’s head of commercial office leasing, said. “Every deal you’re reading about is a tenant shrinking, and this is counter to that trend.”
Feil’s David Turino handled the deal for the landlord in-house.
Celia Young can be reached at email@example.com.