A company known for fashion is establishing a long-term presence in the Garment District.
Raw Marks – which consists of 26 discount labels presented in stores like 21st century, Marshals, and JCPenney – signed a five-and-a-half-year lease for an office and a 12,986 square foot showroom in 205 39th Street West in August, brokers said.
The fashion company attempted to modernize its offices two years ago, but the city’s shutdown of non-essential businesses last spring has kept them from moving.
“What happened here is emblematic of so many recent transactions in the city”, Evan lieberman, Resolution of real estate partners‘ Senior rental manager, who represented the tenant, said in a statement. âRight before they made a decision on what space was going to be their new office and showroom, the city closed its doors. But with a little luck and a lot of patience, this business is now in a position to have a perfect location in New York for its continued growth.
Raw brands – also known as R-Brand – more than doubles its footprint 1357 Broadway, where it occupied 6,000 square feet, to the entire 15th floor of the 17-story 205 West 39th.
The asking price for the 39th Street space is $ 48 per square foot. The brokers are not disclosing the price Raw Brands actually paid. The company was drawn to the fact that the space was already fully constructed, Lieberman said.
The transaction went fairly well because Lieberman’s colleague, Mitch cooperstock, General Manager of Leasing at Resolution, represented the owner of the building, Daniel mintz. Cooperstock declined to comment on the deal.