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Brokerage
Posted: April 12, 2022
Luxe Design House signs full-building lease in Soho
New York, NY According to Newmark, luxury design house F. Schumacher & Co signed a 26,000 s/f lease at The Devlin Building on 459 Broadway in Soho. Under a long-term deal, F. Schumacher & Co will be relocating their headquarters downtown to the Chetrit Organization-owned asset. Newmark's vice chairman Howard Kesseler and associate Alexander Kesseler represented ownership on the transaction.
F. Schumacher & Co is known for its portfolio of textiles, wallpaper, trims, floor coverings and finished goods. The 130-year-old firm signed for the entire office portion of the property by taking floors 2-5 with exclusive access to a newly-built outdoor roof deck. The new space offers 12' to 14' ceiling heights, excellent natural light, an architecturally significant cast-iron façade and an updated HVAC system.
"The Chetrit Organization's Jake Chetrit and his son Michael have been excellent stewards of this historically important asset," said Kesseler. "The successful leasing of the property to a long-standing New York brand like F. Schumacher & Co speaks volumes to the demand for boutique office users looking for top-quality space in Soho."
459 Broadway, known as the Devlin Building, is a landmarked property built in 1915 and owned by The Chetrit Organization. The firm also controls multiple commercial properties in Midtown, SoHo, the Garment District and Downtown. 459 Broadway is a five-story asset located on Broadway and Grand St. The property features large arched windows, loft-like interiors and 24/7 access. It is within walking distance of several subway lines, including the B, D, F, M,6, N, R lines and Citi Bike docking stations.
F. Schumacher & Co was represented by Sinvin.
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