Two Design and Furniture Companies Ink Deals at 171 Madison Avenue

Pella Windows & Doors and outdoor furniture manufacturer Vondom have inked new deals at GFP Real Estate’s 171 Madison Avenue.

In the largest deal, Vondom secured a lease for 2,850 square feet of combined retail and basement space in the building, GFP said. The move will mark a new flagship location for Vondom after it relocates from its showroom at 979 Third Avenue to the Madison Avenue storefront, which has an address of 175 Madison Avenue, in the fourth quarter of the year.

Asking rent for the ground-floor retail was $150 per square foot, according to GFP’s Allen Gurevich, who represented GFP in the deal.

Meanwhile, Pella signed a lease for 2,400 square feet of office and showroom space on the second floor of the 17-story Midtown building, to relocate from its current digs at 40 Exchange Place next month. Asking rent was $55 per square foot, Gurevich said.

Both deals had seven-plus year terms, Gurevich added.

GFP’s Matthew Colavita, who brokered the deal for Pella, did not immediately respond to a request for comment. 

Newmark (NMRK)’s Andrew Taub and Benjamin Birnbaum, who did not immediately respond to requests for comment, also brokered the Vondom deal for GFP. Marc Simon of Isaacs and Company, who represented Vondom, also did not respond.

“171 Madison Avenue is becoming a prime location for design and furniture companies, and we’re thrilled to welcome both Pella Windows & Doors and Vondom to the building,” a spokesperson for GFP said in a statement.

Other tenants of the 136,000-square-foot 171 Madison include sound system designer Presentation Products, which in June signed a seven-year renewal for 6,196 square feet on the 12th floor, Commercial Observer previously reported.

The property one block from the Empire State Building recently made major upgrades to its lobby, entrance and elevators.

Isabelle Durso can be reached at idurso@commercialobserver.com.