Clothing Design Brand Expanding to 5K SF at 209 West 38th
By Mark Hallum March 28, 2023 4:01 pm
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Clothing wholesaler 209 Group is extending its lease and expanding to 4,603 square feet at GFP Real Estate’s 209 West 38th Street.
The tenant has previously leased 2,603 square feet on part of the fourth floor. The new, five-year lease expands its footprint by an additional 2,000 square feet and covers the entire floor, according to GFP.
The landlord did not disclose the asking rent in the building, but Newmark (NMRK) placed the average asking rent for Midtown at $78.61 per square foot in the fourth quarter of 2022. It’s not clear when the tenant moved in.
“209 West 38th Street remains a hub for fashion and accessory designers and wholesalers, who prefer the building’s loft-like interiors and oversized windows,” Matthew Mandell of GFP, who brokered the deal for both sides, said in a statement. “Over the past several months we’ve seen a lot of fashion tenants relocating and rightsizing to larger spaces.”
Aside from 209 Group’s deal, GFP also signed leases in the 12-story building with Jesco Footwear Group, which took 2,475 square feet on the 11th floor, and swimwear brand Parke & Ronen, which signed a three-year lease for 1,685 square feet on the 10th floor.
Built in 1910, the 160,000-square-foot 209 West 38th Street was designed by architect Frank Helmle, who worked with McKim, Mead & White, the well-known firm that designed the original Pennsylvania Station.
Mark Hallum can be reached at mhallum@commercialobserver.com.
