Manhattan, NY Glamorise Foundations has signed a ten-year, nine-month 8,901 s/f lease at 48 West 37th St. in the Garment District. The independently-owned bra manufacturing company will occupy the entire sixth floor of the 18-story building, which was built in 1926. David Levy of Adams & Co. represented the landlord, Forty Eight Thirty Seven Associates and Michael Joseph of Colliers International NY LLC represented the tenant.
Glamorise Foundations will utilize the sixth floor as showroom space and general and executive offices.
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,