Marc and Michael Schoen of Savitt Partners broker three transactions

According to Savitt Partners, the firm recently completed the following three transactions at 530 Seventh Ave.: In a transaction arranged by Savitt Partners, DL 1961 Premium Denim has renewed and expanded its lease. The premium denim company committed to an additional 1,400 s/f of showroom space and renewed its 2,117 s/f lease within the 460,000 s/f property owned by G&S Realty 1, LLC. The Savitt Partners team of Marc Schoen and Michael Schoen represented both DL 1961 Premium Denim and the ownership in the lease negotiations. Prep Showroom has renewed and extended its 1,700 s/f lease. Founded by Kara Weinstein to prepare the next generation of emerging designers for a long and successful future, Prep Showroom will continue to occupy the fourth floor of the property. The contemporary showroom houses a number of hot brands including Textile Junkie, Miss Ferriday, Orka Messica, OneFive, The Cue and 1020 by Nicole. The Savitt Partners team of Marc and Michael Schoen represented both the tenant and the building ownership in the negotiations. Silvereed, a division of Millwork Holdings and a subsidiary of the Hong Kong-based Li & Fung Group, has leased 1,700 s/f of showroom space. The contemporary clothing brand relocated its operations from 1384 Broadway to a prebuilt, newly designed space on the 12th floor of the property to enhance its image and be closer to its customer base. The Savitt Partners team of Marc and Michael Schoen represented the building ownership in the lease negotiations. While financials were not disclosed for these transactions, the average asking rent at 530 Seventh Ave. is $50 per s/f. Built in 1930, the Art-Deco 530 Seventh Avenue is widely-recognized as the premier location for many of the hottest fashion companies in the contemporary, junior and missy category, as well as designer, bridge, menswear, urban, footwear and accessory industries. High profile tenants in the property include Perry Ellis, Max Mara, Chaus, Fire, New Balance, Nike Swimwear, Kenneth Cole, Level 99 and Baby Phat, as well as multi-line showroom reps Point A Showroom, TKE, Lerner Et Cie and Focus Showroom to name a few. Savitt Partners is a full-service commercial real estate company headquartered in New York City. Founded by Bob Savitt, the firm owns and/or operates a portfolio totaling nearly two million square feet of office and showroom buildings in Manhattan, including 530 Seventh Avenue, 525 Seventh Avenue, 218 West 40th Street, 499 Seventh Avenue and 11 West 19th Street. In addition to overseeing the leasing and management of its own assets, the firm provides superior leasing, asset and property management and investment services to other quality owners and tenants.