Manhattan, NY According to Adams & Co. Real Estate, LLC, Keeco, a home textiles supplier, signed a 26,170 s/f lease at 390 Fifth Ave. The company will be relocating from 295 Fifth Ave. to an office and showroom space on the entire 2nd floor and partial 5th floor of 390 Fifth Ave. by Q1 2021.
“The neighborhood near Fifth Ave. between 33rd St. to 37th St., is already an established destination for textile suppliers, and Keeco’s move is creating a new industry specifically for 390 Fifth Ave., a building that meets the need for showroom space,” said Jeff Buslik of Adams. “There is a demand for both showroom and office space for this specific business and we predict we will see similar deals in the months to come. Our location is prime and gives our clients easy accessibility with major transportation hubs nearby.”
Jeff Buslik and Jay Dispaltro of Adams & Co. represented the landlord, Hilson Management Corp., while Evan Margolin and Scott Ansel of Savills represented the tenant. Asking rents were $50 per s/f.
“We are excited to welcome Keeco to 390 Fifth Avenue and embark on what will hopefully be a new chapter in our longstanding ownership of this property,” said Jeremy Schwalbe, third generation president of Hilson Management Corp. “After Keeco toured the space, we knew they would be a great addition to our roster of tenants. Keeco is a leader within their industry and 390 Fifth has always been home to trailblazers. We are confident that this will lead to others.
Keeco is a best in class home textile supplier, specializing in fashion top of bed, basic and utility bedding, and soft window with additional businesses in bath, kitchen textiles, table linens and patio mats. With a footprint for over 40 years, their products can be found at most retailers in North America. Their corporate office is located in Hayward, California.
Originally constructed in 1903, 390 Fifth Avenue is a 135,000 s/f, nine-story office building located in Manhattan’s NoMad neighborhood. The corner building features a new lobby, elevators and oversized windows, and is close to Grand Central and Penn Station. The building is easily accessible via the B, D, F, N, Q, R, W, 1, 2, 3, and 6 trains as well as the PATH.