Manhattan, NY Cresa Global Inc. (Cresa) vice president Nicholas Markel and vice president Benjamin Grajzgrund, MRICS SIOR have arranged the new, New York City headquarters for Ganni at 381 Broadway. The popular Danish ready-to-wear fashion brand signed a five-year, five-month lease for a 5,750 s/f penthouse space that includes a mezzanine floor feature.
“For more than two decades, Ganni has been a revered brand at the forefront of fashion worldwide,” said Markel. “The owner’s rep was exceptionally helpful and, together, we were able to accommodate my client’s need for expanded space and amenities.”
Louise du Toit, president Ganni NA said, “Working with the Cresa team made the search and lease negotiations effortless. We are happy to have found a new ‘home’ in a great location that meets all our needs.”
Representing the landlord, Churchill RE, was Brooks Hauf of Avison Young. Asking rent was 68 per s/f.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,