News: Brokerage

Neugeboren, Goetz and Savitt of Savitt Partners arrange three new transactions totaling 7,000 s/f at 530 Seventh Avenue

530 Seventh Ave., located at the epicenter of the Garment District continues to attract some of the hottest fashion and creative brands in the market. Recently, three tenants committed to 7,000 s/f of space at 530 Seventh Ave., furthering the trend of national and international companies signing direct leases for new space and existing tenants expanding at the iconic tower. The Savitt Partners team of Brian Neugeboren, Nicole Goetz and Bob Savitt worked closely with all the companies in negotiating the multifaceted lease transactions. One of the newest additions to 530 Seventh Ave. is J Public Relations NYC, Inc., a top hospitality public relations firm with offices in NYC and California. The PR agency inked a 2,100 s/f lease and will relocate its offices, currently situated at 131 Varick Street. Michael Schoen of Savitt Partners represented J Public Relations in this transaction, while Neugeboren and Goetz acted on behalf of ownership. J Public Relations' commitment is just the latest example of the property's brand expansion to a cross-section of creative industries including film, photography, design and technology. The firm joins other creative tenants at 530 Seventh Ave. including BWG Strategy and hud:sun media, to name a few. Savitt said, "The J Public Relations transaction also speaks to the recent trend of creative tenants relocating to the Fashion District from SoHo, Chelsea, Meatpacking and the Flatiron neighborhoods of Manhattan. Over the past year we have seen numerous high-profile relocations." Fashion lifestyle brand Alternative Apparel, Inc. has expanded into an additional 1,400 s/f space to accommodate the company's growing operations and now occupies nearly 5,000 s/f. Neugeboren and Goetz represented the ownership in this transaction, while Robert Eisenberg and Michael Frantz of Newmark Grubb Knight Frank acted on behalf of Alternative Apparel. Kellwood Company LLC, another contemporary fashion company also renewed its 3,400 s/f lease on the sixth floor. The firm has been a major presence in the property since signing its first lease in 2007. Neugeboren and Goetz represented the ownership in this transaction, while Nicola Heryet of Cassidy Turley acted on behalf of Kellwood. Built in 1930, the 490,000 s/f, Art-Deco 530 Seventh Ave. is located in the heart of Midtown Manhattan's Garment District. The property is home to The Skylark, a classically styled cocktail lounge for entertaining, and Space530, the area's premier, full-service work environment and showroom concept. 530 Seventh Ave. houses many of the world's hottest fashion companies as well as creative industries including film, photography, design and technology.
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