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Brokerage
Posted: January 13, 2014
Levy of Adams & Co. brokers 5,194 s/f lease
Adams & Co. Real Estate, LLC, one of Manhattan's premier full-service real estate firms specializing in property management, brokerage and consulting services, brokered a 5,194 s/f lease at 411 Fifth Ave. for Melissa & Doug, LLC.
David Levy, principal of Adams & Co., represented the landlord, 411 Fifth Avenue Associates, while Alan Bonett and Brad Cohn of Adams & Co., represented the tenant.
Although the details of the transaction were not disclosed, asking rent was $49 per s/f. Melissa & Doug plans to use the space as general and executive offices as well as showroom space for the company's accessories and toy company.
"411 Fifth Ave. is situated on one of the most iconic streets in Manhattan, a perfect location for a toy company to thrive and grow its business," said Levy. "411 Fifth Ave. continues to serve a large number of influential and high-profile fashion companies, many of which have remained at this location for decades. We look forward to developing a long lasting relationship with Melissa & Doug."
Melissa & Doug, LLC was established over 25 years ago with the philosophy to make each and every customer a happy and permanent member of the Melissa & Doug family by offering products with tremendous value, quality and design.
411 Fifth Ave. is an 11-story, 110,000 s/f building originally designed in 1915 by the renowned New York firm of Warren & Wetmore. The building boasts a tenant roster that includes E. Gluck Corp., Armitron, Bollman Hat Company and Citibank.
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