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Brokerage
Posted: March 15, 2016
Maslin of Adams & Co. secures 5,397 s/f; Marvin of Olmstead Properties assists
Brett Maslin, Adams & Co.
1261 Broadway - Manhattan, NY
Steven Marvin, Adams & Co.
Manhattan, NY Adams & Co. Real Estate, LLC brokered a 5,397 s/f new lease for Orian Rugs, LLC at 1261 Broadway. The rug manufacturer will use the 11th floor space as a showroom.
Brett Maslin of Adams & Co. represented the tenant, while Steven Marvin of the Olmstead Properties represented the landlord, 1255 Company. Although the details of the 5 year lease were not disclosed, asking rent was $54 per s/f.
“One of the largest rug manufacturers in the world, Orian Rugs, was looking for a convenient location in the Garment District to relocate its showroom,” said Maslin. “The company decided the penthouse space at 1261 Broadway was ideal for hosting clients and business partners, due to the impressive views, fully renovated building lobby and ornate neoclassical façade.”
Established in 1979, Orian Rugs is a premier manufacturer of decorative and scatter rugs. Over the past 30 years, the company has expanded tremendously and in 2006 became a zero-landfill company in order to reduce waste and increase recycling initiatives.
Adams & Co. Real Estate, LLC is among the top five leasing companies in New York City, as measured by total square feet. The full-service real estate firm is responsible for millions of square feet of office space and provides property management, brokerage and consulting services throughout Manhattan by teaming experience with innovation.
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