News: Brokerage

GFP Real Estate signs four leases totaling 8,573 s/f at 209 W. 38th St. in Midtown South

Manhattan, NY GFP Real Estate, LLC has signed four new leases totaling 8,753 s/f at 209 West 38th St. in Midtown South.

Mathew Mandell of GFP Real Estate represented the landlord, GFP Real Estate, in each of the transactions.

• Kittae of NY signed a new five-year lease for 1,930 s/f of office and showroom space on the ninth floor of the building. Evan Lieberman of Resolution Real Estate Partners represented the tenant.

• Rylee + Cru signed a new lease for 1,875 s/f of showroom and general office space on the ninth floor. The company, which is expected to move in following the completion of its new space, was represented by Mandell of GFP.

• Seventh Avenue Knits Corp.signed a new lease extension for its 1,786 s/f of showroom and executive offices on the fourth floor. The company, which first moved into the building in 2021, was represented by Mandell of GFP.

• RHZQ LLC signed a new lease for 1,882 s/f of showroom and office space on the fifth floor. Lieberman of Resolution R.E. represented the tenant.

• ASL Textile Group LLC, d.b.a. Fuen Group signed a new lease for 1,100 s/f of office and showroom space on the seventh floor of the building.  Gregory Gang of Endurance Real Estate represented the tenant in the transaction.

Built in 1910 under the supervision of the architect Frank Helmle, 209 West 38th St is a 12-story, 160,000 s/f office building that is home to several fashion tenants, while the base of the building features the Ben’s Kosher Delicatessen.  Located in the Garment District, the building is close to many subway lines as well as a variety of amenities.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

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,