Manhattan, NY LH Charney said that Kellwood Company and KBL Group International will both be relocating to 1441 Bdwy. in Times Sq. Kellwood Co. will occupy 19,000 s/f on the 18th floor of the Times Sq. tower, while KBL Group will occupy a 9,000 s/f space on the eighth floor. The leases cap off nearly 76,000 s/f of transactions at the building over the past 12 months.
In addition to new tenants Kellwood and KBL, Merchant Financial Group renewed its lease for 10,000 s/f on the 17th floor, and Indus Apparel signed a renewal for 4,500 s/f on the 24th floor. Asking rents on the deals ranged from the low $50’s to the mid $60’s per s/f.
Kellwood was represented by Marc Kritzer of Kritzer Realty, with Jason Brik and Steve Marvin of Olmstead Properties representing Indus Apparel, and Newmark’s Owen Reda and Robin Fisher repping Merchant Financial. Ownership was represented by the Colliers team of Rick Doolittle, JP Howard, Michael Joseph and G. Taylor Bell on all transactions.
“We are delighted to welcome Kellwood Company and KBL Group to 1441 Broadway and are thrilled to see continued leasing activity at our buildings despite the challenges facing the office sector,” said LH Charney president and chief operating officer Joseph Giannola. “Our strategy of offering turnkey spaces and flexible lease structures accompanied by engaging on-site retail amenities has proven to be an appealing combination for new and prospective tenants, especially in a stable, family-owned building.”
“1441 Broadway, along with its sister property 1410 Broadway, provide tenants with a high-visibility address, high-quality space, and the flexibility and growth potential that smaller, entrepreneurial tenants demand,” said Colliers executive vice president Rick Doolittle. “Today’s office users are seeking a workplace experience that cannot be replicated via remote work. The customized solutions and personalized service offered by a family-owned landlord like LH Charney are highly attractive features for tenants in the market.”
L.H. Charney has made significant efforts to transform 1441 Broadway in recent years, including a comprehensive renovation plan that created 46,000 s/f of glass box retail space and 2,000 s/f of new LED signage while preserving the historic façade of the office tower. The adjacent 1410 Broadway received a full renovation and modernization of the lobby, common areas, restrooms, and elevators featuring “lobby boost” technology. The renovations were part of a forward-thinking strategy to appeal more to modern tenants seeking more engaging, inspiring, and well-amenitized locations for their offices.
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