Bra Maker Ariela & Associates Inks 27K-SF Lease at 218 West 40th Street

Ariela & Associates International, a women’s intimate apparel manufacturer, leased 27,000 square feet at savitt partners’ 218 West 40th Street, Commercial has learned. 

Ariela signed a seven-year lease in December and will occupy the 12-story building’s entire sixth and seventh floors, according to a source with knowledge of the deal. The company is relocating from 1359 Broadway. 

Asking rent was not provided but previous CO reporting noted asking rent of $100 per square foot for the building. 

Michael Frantz of MBF Commercial Real Estate Services represented Ariela in the deal, while Brian Neugeboren, Nicole Goetz and Matthew Savitt handled the deal internally for Savitt Partners. 

MBF could not be reached for comment, and Savitt declined to comment. 

Savitt scored another lease at 218 West 40th Street back in December, as well. Afterschool program provider ExpandED Schools signed on to take 10,500 square feet of the building’s 12th floor for 10 years to relocate from 11 West 42nd Street. 

Jarod Stern, Sam Mann and Adele Werner of Savills handled the deal for ExpandED, while Neugeboren, Goetz and Savitt brokered the deal for the landlord. Savills declined to comment. 

The West 40th Street property is a side-street building with floor plates ranging between 10,500 square feet and 14,000 square feet, a bit bigger than other side-street buildings that have floor plates closer to between 5,000 square feet and 7,500 square feet, the source noted. 

Other tenants in the property include Korean food hall KFF, retailer Urban Outfitters, and manufacturing company Avery Dennison.

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.