Greenspan and Heaner of Kaufman complete 32,359 s/f lease at 1407 Broadway; Kaplan and Wallis of Lansco represent tenant

According to the Kaufman Organization, Geneva Watch Group has signed a 10-year lease for 32,359 s/f at The Fashion District's 1407 Broadway. The full-floor space, which features a wrap-around terrace that runs an entire city block, will house the company's corporate headquarters and marks the accessory pioneer's return to the epicenter of fashion in the city. Although the terms of the lease were undisclosed, the asking price for the space was $52 per s/f. Grant Greenspan and Michael Heaner of the Kaufman Organization represented the landlord in the transaction, while Steven Kaplan and Jack Wallis of the Lansco Corp. represented the tenant.  The company was formerly located in Long Island City, Queens. "Geneva Watch Group is a true pioneer in the fashion accessory industry; we are honored that this remarkable brand chose 1407 Broadway as its home," said Greenspan of the Kaufman Org., the exclusive leasing agent for the building. "This building is a true one stop shop for the fashion world, comprised of big name brands from every corner of the industry." 1407 Broadway, built in 1950, is a 42-story, 1.1 million s/f building and features 24-hour access, on-site security, banking, food service, on-site management and close to Times Sq., Herald Sq., Grand Central Terminal, Penn Station, The Port Authority and numerous subway lines. Geneva Watch Group, established in 1974 and headquartered in New York, is today one of the leading US-based company in the design, production and distribution of watches and clocks with around 1800 employees worldwide and locations in New York, Michigan, Hong Kong and China. During the year ending March 2008, the Group recorded net revenues of $192 million and sold approximately 25 million watches. Geneva Watch employs over 300 people in the US and 1,500 in the Far East. The Kaufman Organization, with over 85 years experience and 6.9 million s/f of owned or managed space, has long been considered one of the most prominent and well-respected real estate companies in the New York metropolitan area. The company offers a fully integrated spectrum of leasing and management services to diverse owners and tenants and is continually looking to build its portfolio through property acquisitions.