Bernhardt Furniture Renews 20K-SF Showroom at 136 Madison Avenue
By Abigail Nehring May 16, 2024 3:56 pm
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Bernhardt Furniture will remain part of the woodwork at 136 Madison Avenue, Commercial Observer has learned.
The North Carolina-based furniture maker renewed its 20,323-square-foot office and showroom across the entire third floor of the 17-story building for another five years, according to landlord Williams Equities.
A spokesperson for the firm declined to share the asking rent, but average asking rent for office space in Midtown South was $77.81 per square foot in the first quarter of 2024, according to a Cushman & Wakefield report.
It’s unclear exactly when Bernhardt opened its office at 136 Madison, but the company has been at the property for more than a decade, according to Cresa’s Peter Sabesan, who arranged the deal for Bernhardt along with Matthew Feigen and James Pirot.
“They love the location and the way the building is managed,” Sabesan said. “The owners are very responsive. They both recognize the value of having each other.”
The 135-year-old furniture maker remains rooted in Lenoir, N.C., where abundant native white oak once provided convenient building material for its products, according to its website. Now Bernhardt operates eight manufacturing facilities across North Carolina and has six offices overseas.
Colliers (CIGI)’ Mac Roos, Andrew Roos, Michael Cohen and Jessica Verdi handled the deal for Williams Equities, which is run by the Cohen and Roos families.
“In today’s market, it is important to foster long-standing relationships with existing tenants,” Mac Roos said in a statement. “Our goal for this building is to attract and retain firms that appreciate its period architecture, outdoor amenity space, and boutique appeal.”
The 307,798-square-foot building between East 31st and East 32nd streets has welcomed a few newcomers recently, including tennis-inspired clothing retailer Lacoste and tech firm Impact.com. Other tenants at the property include Syracuse University, coworking company Regus and lingerie brand Wacoal.
Abigail Nehring can be reached at anehring@commercialobserver.com.
