GFP Real Estate complete six leases and expansions totaling 28,967 s/f
Manhattan, NY GFP Real Estate, LLC has completed six lease transactions totaling 28,987 s/f at 230 Fifth Ave. The 99% leased specialty showroom building is the New York hub of the Home Textiles Industry, home to more than 140 luxury home fashion accessories companies from across the globe.
GFP Real Estate principal Jane Gural-Senders and leasing director Harvey Richer represented the landlord, GFP Real Estate—and the tenants—in each of the direct lease transactions listed below. Although the terms of the transactions below were undisclosed, asking rents at the building are approximately $56 per s/f.
“230 Fifth Avenue continues to be the go-to destination for the home textile and design industry,” said Gural-Senders. “We are thrilled to accommodate the growth of our existing tenants while also welcoming new companies into the fold.”
Key Lease Highlights:
- JS Royal Home USA Inc., an industry leading supplier of high-quality home textiles, signed a five-year lease extension for 5,600 s/f on the 12th floor, including a 1,094 s/f expansion.
- Manhattan Kids LLC, a company that creates baby, juvenile and teen home textiles, signed a five-year lease extension for its 5,327 s/f office and showroom space on the 18th floor.
- Devgiri Exports LLC, one of the largest rug and home textile manufacturing companies from India, signed a seven-year lease extension and expanded its space to 7,600 s/f on the 17th floor, adding 2,081 s/f.
- Evergrace Home Inc., a designer/home décor product developer that creates premium quality beddings and throws, signed a five-year lease extension for 3,528 s/f on the 2nd floor.
- Veritas USA Inc., a bath, bedding, homes textiles and accessories company, renewed its four-year lease for 2,644 s/f on the 19th floor.
- American Textile Company Inc., a Pittsburgh, PA-based bedding manufacturer, signed a new four-year lease for 4,268 s/f on the 15th floor. Alan Bonett of Adams & Co. represented the tenant in this transaction.
“Demand for space at 230 Fifth Avenue remains incredibly strong, and we’re proud to provide the flexible options for our tenants need to grow and thrive,” said Richer.