Are you the publisher? Claim or contact us about this channel


Embed this content in your HTML

Search

Report adult content:

click to rate:

Account: (login)

More Channels


Channel Catalog


Channel Description:

New York's authority on commercial real estate leasing, deals and culture.
    0 0

    David Peyser Sportswear has signed a nearly 24,000-square-foot lease for the entire fifth floor of the Garment Center building 463 Seventh Avenue.

    David Peyser did a seven-year deal for the space for rental rates around $35 per square foot.

    The lease came after David Peyser acquired the tenant that previously occupied the space, the women’s coat label Junior Gallery, early last month.

    463 Seventh Avenue

    David Levy, a real estate broker with the services firm Adams & Co. who arranged the transaction, said that David Peyser wasn’t obligated to inherit the floor through the acquisition because it had only purchased the brand and not all of Junior Gallery’s operations and liabilities.

    “We wound up canceling Junior Gallery’s lease and signing a new deal with David Peyser for the floor directly because they wanted to keep the space,” Mr. Levy said.

    David Peyser has about 14,000 square feet at another building managed by Adams & Co., Mr. Levy said, 1071 Avenue of the Americas, where it occupies the entire 12th floor, but wanted to maintain Junior Gallery’s office at 463 Seventh Avenue to keep the brands separate. One of David Peyser’s best known labels is the brand Weatherproof.

    “I think they could have squeezed everyone into the roughly 24,000 square feet at 463 Seventh Avenue and left 1071 Avenue of the Americas but they felt that it would be better to preserve the identity of each brand and keep them separate,” Mr. Levy said. “Plus now they probably have a little extra space to grow rather than be packed together.”

    Mr. Levy said that 463 Seventh Avenue, which is on the corner of 35th Street, has increasingly become attractive to office tenants in recent years because of its proximity to Penn State but he has been reluctant to change the mix of occupants at the property, which consists mainly of apparel companies.

    “I don’t want to put an accounting firm next to a clothing company on the same floor, it’s just not fair to the apparel tenant,” Mr. Levy said. “One of the reasons why people come to this building is because of its mix of tenants in the industry and the atmosphere that creates. If we started diluting that by adding office tenants it would almost detract from their ability to be successful.”

    Mr. Levy said he has brought office tenants into the roughly 400,000-square-foot property but only selectively.

    “We did a deal with New York Presbyterian for the entire 10th floor, which they use for administration offices and book keeping,” Mr. Levy said. “They wound up expanding to take the entire 14th floor as well. But we did those deals because they were for the full floors.”


    jhanasobserverjhanasobserver

    0 0

    Courtesy of NE Rej

    Key Apparel Inc. is set to relocate within the Garment District, brokers said.

    The wholesaler and manufacturer of sportswear, currently located at 45 West 34th Street, will over a few avenues to 463 Seventh Avenue. The company will take a 3,852-square-foot office on the sixth floor of Arsenal Company's building.

    Key Apparel plans to utilize the space to house general and executive offices as well as a showroom.

    "It's really one of the few buildings that are dedicated to apparel," said David Levy, a principal at Adams & Co. Real Estate. "It used to be mostly outer weigh,t but it has changed to mixed. Some men's, some women's, some childrenswear. Even some very expensive. It's become a mixed bag of apparel."

    Mr. Levy is no a stranger to the neighborhood and has exclusively represents several buildings in the Garment District including the Menswear Center at 42 West 39th Street and the Childrenswear Center at 34 West 33rd Street and, of course, 463 Seventh Avenue. Brokers from BNSK Real Estate and Sinovsky Real Estate were representing Key Apparel in the negotiation.

    The asking rent for the office was $39 per square foot and the lease duration was set for five years.

    "We are fully occupied," said Mr. Levy.

    The building recently closed on two deals that brought the building to 100 percent occupancy. 463 Seventh Avenue boasts a strong tenant list including Redcats USA, Bernado Fashion, and G-111 Apparel Group as well as a Federal Express and Andrew's Coffee Shop on the ground floor retail space.


    mewingobserver35312_Adams-463 7th ave_opt2mewingobserver35312_Adams-463 7th ave_opt2

    0 0

    Bernardo Fashions has signed a six-year, 11,000-square-foot lease renewal at The Outerwear Building at 463 Seventh Avenue, where landlord Arsenal Company is resisting an influx of creative tenants creeping into the Fashion Corridor from Midtown South, The Commercial Observer has learned.

    2

    (Credit: Bernardo Fashions)

    “A lot of the buildings in the area are staying away from apparel, but we are embracing it – so for us it was important that we retain this tenant,” said David Levy of Adams & Company, who represented both parties in the transaction. “The whole transit triangle area is gaining a lot of momentum from more creative companies that are now heading towards our area from Midtown South.”

    Asking rents were $44 per square foot for the space.  The 22-story building has 24/7 access and security in addition to newly-renovated elevators and windows.  Notable tenants include OSP Group, Henry Doneger Associates, ADJMI Apparel Group and J. Mendel, which host showrooms and offices throughout the building.  Retail tenants include Federal Express, Andrew's Coffee Shop.

    Bernardo Fashions designs and sells outerwear for men and women. It serves customers through its retail stores. The company was founded in 1989 and is based in New York, New York with offices in London, United Kingdom; Hangzhou, China; and Hanoi, Vietnam.

    The brand prides itself on creating “high quality, easy to care for garment with a high fashion twist… go-to pieces for the modern woman with an active lifestyle,” and this year extended the brand with a launch into the active wear market with Bernardo Active.

    The nearly 480,000-square-foot building is located just steps from Penn Station, major subway lines, Macy's, the Port Authority, the General Post Office, and Madison Square Garden.  New tenants receive brand-new, double-glazed windows.

    “The landlord keeps the property in impeccable condition,” Mr. Levy said, noting that HVAC, air conditioning and elevator systems are renovated and in tip-top shape.


    abarbarinobserver2abarbarinobserver2

    0 0

    The Doneger Group has signed a 13-year renewal for 47,570 square feet on floors two and three at the Outerwear Building at 463 Seventh Avenue, The Commercial Observer has learned.

    The tenant, a provider of brand intelligence for the fashion industry, will pay rent starting in the high-$30s per square foot, according to data from CompStak. Landlord Arsenal Company is asking between $38 and $42 per square foot for available space on the eighth, 11th and 13 floors, according to listings with landlord broker Adams & Company.

    463 7th_2Long a stronghold for the fashion and apparel industries, the neighborhood surrounding 463 Seventh Avenue has slowly been experiencing the creep of creative tenants spilling over from Midtown South. Despite the changing demographics, the landlord is staying true to the area’s core industry. Earlier this year, Bernardo Fashions signed a six-year, 11,000-square-foot renewal for its space at the building.

    Built in 1925, the 22-story Midtown building boasts retail and office tenants such as New York Presbyterian Hospital, Andrew’s Coffee Shop and FedEx.

    Founded in 1946, The Doneger Group provides a number of service offerings, including business intelligence, fashion direction and retail coverage. In addition to the company’s New York location, The Doneger Group’s Directives West Division operates out of Los Angeles.

    Leasing agent David Levy of Adams & Company did not return requests seeking comment.


    gdelaporteobserver463 7th_2gdelaporteobserver463 7th_2

    0 0

    463 Seventh Avenue (Courtesy of NE REJ)

    463 Seventh Avenue (Courtesy of NE REJ)

    Comint Leather Goods has renewed its lease at the fully occupied Outerwear Building.

    The family owned and operated outerwear manufacturer will continue to call its 6,739-square-foot office at 463 Seventh Avenue home. The term of the lease was not disclosed, but Comint Leather Goods plans to continue to utilize its space for general offices and a showroom for its products.

    “463 Seventh Avenue is centrally located on Seventh Avenue between 35th and 36th Street, a prime showroom location for an apparel tenant to grow their brand,” said David Levy of Adams & Co. “The building allows us to provide our clients with valuable space at the right price, creating an ideal opportunity.”

    Mr. Levy brokered the deal on behalf of the landlord, the Arsenal Company LLC, and the tenant. Asking rent was $42per square foot.

    The influx of creative and tech tenants in the city has increased prices in Midtown South and pushed some firms to look for cheaper rents, notably around 463 Seventh Avenue where it has been predominantly fashion and apparel tenants.

    The 22-story building, however, has maintained its ground and remained largely apparel-occupied. Though some non-outerwear tenants have slipped in over the years, likely due to the outward push from other buildings in the area that have taken in creative tenants.

    “It’s really one of the few buildings that are dedicated to apparel,” said Mr. Levy in response to an earlier deal. “It used to be mostly outerwear, but it has changed to mixed. Some men’s, some women’s, some childrenswear. Even some very expensive. It’s become a mixed bag of apparel."

    Mr. Levy is the exclusive broker for a number of apparel buildings including the Menswear Center at 42 West 39th Street and the Childrenswear Center at 34 West 33rd Street. 


    mewingobserver463 Seventh Avenue (Courtesy of NE REJ)mewingobserver463 Seventh Avenue (Courtesy of NE REJ)

    0 0

    Courtesy of Crain's

    Courtesy of Crain's

    David Peyser Sportswear Inc. has renewed its lease at 1071 Avenue of the Americas.

    The manufacturer of high-end outerwear and sportswear will add 3,545 square feet on the 8th floor to its 14,000-square-foot occupancy on the 12th floor at Ten Seventy One Associates' building, spanning a total of 17,545 square feet. The deal comes on the heels of the company's growth and expansion efforts of its mens outwear brand, Weatherproof

    "This fashionable location has proven to be beneficial for David Peyser Sportswear and we are pleased that they are expanding,” said David Levy, a principal of Adams & Co. “1071 Avenue of the Americas is an extremely attractive building as it is located in the heart of a cultural center with stunning views of Bryant Park."

    The company also leases a larger, 24,000-square-foot office at nearby 463 Seventh Avenue, another property in Adams & Co.'s portfolio. The two offices are divided based on brands owned by the company. A gallery operates out of the space at 463 Seventh Avenue, and WeatherProof runs its general offices and showrooms out of 1071 Avenue of the Americas. 

    Mr. Levy was instrumental in representing both the landlord and the tenant in the transaction. Asking rents for the deal were upward of $56 per square foot. 

    "The Transit Triangle is the newest 'hot' area in the city," added Mr. Levy.

    Both 1071 Avenue and the Americas and 463 Seventh Avenue fall within the triangle and have been active with leasing to traditional garment tenants as well as creative companies. Recent leases include Comint Leather Goods Inc., Knoles & Carter, and Henry Doneger at 463 Seventh Avenue and David Geller Associates and Joseph Industries Inc. at 1071 Avenue of the Americas. 


    mewingobserverCourtesy of Crain'smewingobserverCourtesy of Crain's

    0 0

    463 Seventh Avenue

    463 Seventh Avenue

    Boston Traders, an outdoor lifestyle clothing company, has signed a new five-year lease in the Garment District, not far from its current location, Commercial Observer has learned.

    On Jan. 1, the company will move into its 3,549-square-foot space on the 13th floor at at 463 Seventh Avenue between West 35th and West 36th Streets, according to a spokeswoman for Adams & Co. The asking rent was $48 per square feet. Boston Traders will relocate from 525 Seventh Avenue between West 38th and West 39th Streets; Jeff Buslik, one of the brokers representing Boston Traders, said its business is growing and it needs more space.

    “We felt that 463 Seventh Avenue was the perfect location for Boston Traders’ expansion,” Mr. Buslik said.

    David Levy of Adams & Co. represented the landlord, The Arsenal Company. Jeff Buslik and Seth Godnick, also of Adams & Co., represented Boston Traders. The deal closed the week following Thanksgiving.

    Mr. Levy said the building has a brand new lobby, which heightens the appeal for “new and exciting brands to come to the building.”

    The prior tenant was TOT USA, another apparel manufacturer.

    Other apparel tenants in the 22-story building include Henry Doneger Associates, Apparel Consultants, Herman K. Bromley and Gallery.


    463 Seventh Avenuedschlangerobserver463 Seventh Avenue463 Seventh Avenuedschlangerobserver463 Seventh Avenue

    0 0

    In Mocean, a swimwear manufacturer, is relocating and doubling the size of its headquarters in a move two blocks away from its current digs. The company signed a four-year sublease for 25,551 square feet at 463 Seventh Avenue, a 22-story, 410,000-square-foot office and retail building between West 35th and West 36th Streets, as The Wall […]

    463 Seventh Avenue.liamlaguerre463 Seventh Avenue.liamlaguerre

    0 0

    Dunkin’ Donuts has signed a 1,600-square-foot lease for 15 years and five months at 155 West 35th Street (also known as 463 Seventh Avenue) for a new store across from Macy’s in Herald Square, Commercial Observer has learned. The coffee chain will occupy 800 square feet on the ground floor and 800 square feet in […]

    463 Seventh Avenue.liamlaguerre463 Seventh Avenue.liamlaguerre

    0 0

    NewYork-Presbyterian Hospital has signed a deal to expand its administrative offices at 463 Seventh Avenue in the Garment District. The hospital signed a lease for more than 10,000 square feet at the building between West 35th and West 36th Streets, according to a press release from Adams & Co., which represented both sides of the […]

    463 Seventh Avenuetcullen2015463 Seventh Avenuetcullen2015

    0 0

    In the 1990s, David Levy and James Buslik were running a small Manhattan brokerage when a landlord with whom they had a good relationship called them to his office. He wanted them to take over the firm, Adams & Co., in the coming years. It was the Thursday before Memorial Day, the 49-year-old Levy recounted. […]

    david_levy_104tcullen2015david_levy_104tcullen2015

    0 0

    A 39-year-old charity that helps the disabled and homeless, Services for the UnderServed, has found itself a new home. The nonprofit has signed a 31,607-square-foot lease at 463 Seventh Avenue, according to a press release from landlord and brokerage Adams & Co. Services for the UnderServed will occupy the whole 17th floor and a piece […]

    primaryphoto192tcullen2015primaryphoto192tcullen2015

    0 0

    Trimfit, a producer of baby and children’s clothing, has signed a deal to relocate within and expand at 463 Seventh Avenue, Commercial Observer has learned. The 9,440-square-foot lease puts Trimfit on part of the 13th floor of the 22-story, 478,800-square-foot building between West 35th and West 36th Streets, according to information provided by landlord and […]

    primaryphoto192tcullen2015primaryphoto192tcullen2015

    0 0

    Rather than renew a lease for part of its office space, Services & Advocacy for GLBT Elders, or SAGE, has purchased a second condominium at 305 Seventh Avenue in Chelsea. The non-profit organization that works to improve the lives of lesbian, gay, bisexual and transgender (LGBT) older adults, bought the 9,267-square-foot sixth floor at the […]

    305 Seventh Avenue. Photo: CoStar Grouplschram2014305 Seventh Avenue. Photo: CoStar Grouplschram2014

    0 0

    Shanghai Shenda America has signed a 12,015-square-foot lease at Adler Group’s 550 Seventh Avenue to triple its offices, Commercial Observer has learned. The company, a global textile manufacturer based in China, will occupy the entire 15th floor of the 25-story Art Deco building between West 39th and West 40th Streets, which was one of the four […]

    550 Seventh Avenueliamlaguerre550 Seventh Avenueliamlaguerre

    0 0

    Apparel manufacturer David Peyser Sportswear has expanded its offices to 28,000 square feet at Adams & Co.’s 4 Bryant Park in Midtown. The outerwear and sportswear designer agreed to a 10-year deal to extend its lease on the entire 14,000-square-foot 12th floor while also expanding to the entire 14,000-square-foot 10th floor at the 12-story, 180,000-square-foot […]

    primaryphoto167rmashcoprimaryphoto167rmashco

    0 0

    Popular fast casual restaurant chain Dig Inn is opening up its 15th Manhattan location at 463 Seventh Avenue near Penn Plaza, Commercial Observer has learned. Dig Inn signed a 15-year deal for 3,156 square feet at the base of the 22-story, 479,000-square-foot building at the northeast corner of West 35th Street, according to sources with […]

    463 Seventh Avenuermashco463 Seventh Avenuermashco

    0 0

    Retail leases, like New Yorkers hiding from inhospitable weather, kept a low profile from mid-February to mid-March. The top five leases only accounted for 64,156 square feet and ranged from a big bank buy to new food options.

    HHC_pier17_exteriors-7–2The EditorsHHC_pier17_exteriors-7–2The Editors

    0 0

    Clothing designer and manufacturer Adjmi Apparel Group is renewing and expanding its office space at Adams & Co.’s 463 Seventh Avenue in the Garment District to nearly 48,000 square feet, Commercial Observer has learned. In the first of two separate lease transactions, Adjmi’s Consolidated Children’s Apparel division signed a 10-year deal to renew its 23,785 […]

    463 Seventh Avenuermashco463 Seventh Avenuermashco

    0 0

    Dig Inn, the New York-based healthy fast-casual food chain, has nailed down two more Manhattan locations—one on the Upper East Side and one in Noho, Commercial Observer has learned. At 1319 First Avenue between East 70th and East 71st Streets, the seasonal, farm-to-table food chain signed a ground-floor lease for 1,500 square feet. The location caters to employees at […]

    691 Broadway. Photo: CoStar Grouplschram2014691 Broadway. Photo: CoStar Grouplschram2014