Manhattan, NY GFP Real Estate said that three new leases have been signed at 209 West 38th St. in Midtown South with Zelouf International Corp., Konges Sløjd Inc. and Zateks Textile Inc., d.b.a. EZTextiles.com. The transactions further strengthen the building’s position as a destination for fashion, apparel, and textile companies in the city’s Garment District.
Mathew Mandell of GFP Real Estate represented the landlord, GFP Real Estate, and the tenants in each of the transactions below unless otherwise noted.
Zelouf International Corp., a third-generation wholesaler and fabric converter that delivers cost-efficient, quality fabrics at high speeds, signed a new 10-year lease for 13,600 s /f — the entire sixth floor — at the building. The company will use the new space as its general and executive offices, and as a showroom and design space. Brett Harvey of Newmark represented the tenant.
Konges Sløjd Inc., an international children’s lifestyle and apparel brand recognized for its Scandinavian-inspired designs and emphasis on quality craftsmanship, signed a new long-term lease for 2,822 s/f of showroom and office space on the 11th floor.
Zateks Textile Inc., d.b.a. EZTextiles.com, a textile wholesaler that provides the largest online library of production-ready, royalty-free digital textile designs, signed a lease renewal for 1,679 s/f of showroom and office space in on the 11th floor. The lease continues the company’s operations at the property, reinforcing 209 West 38th St.’s position as a hub for apparel and textile businesses. The company first moved into the building in 2020.
Built in 1910 under the supervision of the architect Frank Helmle, 209 West 38th St. is a 12-story, 160,000 s/f office building that is home to several fashion tenants, while the base of the building features Ben’s Kosher Delicatessen. Located in the Garment District, the building is close to many subway lines as well as a variety of amenities.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,