Five Tenants Grab Showroom Space at GFP’s 230 Fifth Avenue
By Abigail Nehring September 8, 2023 12:33 pm
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Five new and existing tenants took showroom space at 230 Fifth Avenue, according to landlord GFP Real Estate.
In the largest deal, North Carolina-based wholesale textile manufacturer JS Royal Home USA signed a five-year lease for 5,800 square feet on the 12th floor of the 20-story office building, doubling its footprint from a previous lease on another floor, according to GFP’s Jane Gural-Senders and Harvey Richer, who represented both sides in the deals.
The firm did not disclose the asking rent for space at the property. The most recent office market report by Lee & Associates NYC showed market rent in Flatiron was $65.95 per square foot in the second quarter of 2023.
Gural-Senders said the building offers “ideal space” for showcasing textiles, home furnishings and the decorative arts.
Innovated Designs also expanded its footprint in the building after signing a four-year lease for an additional 1,510 square feet on the 16th floor, bringing the total lease to 5,400 square feet, GFP said. The company produces bedding, bath products, and decorative home textiles for retailers including Macy’s, Walmart, Home Goods, Marshalls, T.J.Maxx and Nordstrom Rack.
Home decor and flooring manufacturer Urban86 signed a three-year lease for 1,342 square feet on the 10th floor — a homecoming of sorts after the company closed its showroom at 230 Fifth during the pandemic.
Triangle Home Fashions — which owns brands Lush Décor, Peanut Butter & Jelly and Hello Spud — signed a three-year lease for 1,325 square feet on the ninth floor. The company will relocate from 295 Fifth Avenue.
Last, Casarovea USA signed a three-year renewal for 1,317 square feet on the 19th floor, quadrupling its space from its current lease on a lower floor of the building. Casarovea sells home linens made in Italy.
The building is 97 percent leased after the signings, according to GFP.
Abigail Nehring can be reached at anehring@commercialobserver.com.
