Activewear designer 32 Degrees and a shoe brand Geox have signed deals at L.H. Charney-owned 1410 Broadway. The 34-story office tower is located between West 38th and West 39th streets, in Manhattan’s Garment District, and was originally built in the 1930s.
The largest of the two leases was a 12,000-square-foot expansion for 32 Degrees, which brings the company’s total footprint in the building to roughly 37,000 square feet. According to the landlord, the asking prices at 1410 Broadway range between $50 per square foot at the lower end, and mid-$60.
Collier’s Rick Doolittle, J.P. Howard, Michael Joseph and Taylor Bell represented both parties during the negotiation process.
“The ‘flight to quality’ trend applies to all the various price points and submarkets of the office sector — it’s not just a thing on Park Avenue,” Doolittle said in a statement.
“While the office market continues to be challenging, the continued activity that we have seen at 1410 Broadway is a testament to our strategy for the Broadway office assets,” L.H. Charney CEO Joseph Giannola said in a statement. “The successful lease-up of all our retail spaces with unique and vibrant brands has been a key amenity to office users.”
Simultaneously, Italian shoe and clothing manufacturer Geox also agreed to a lease for 3,500 square feet on the 14th floor of the property. Geox will be joining a roster of textile industry tenants which includes the likes of sportswear company Argee, knitted apparel manufacturer Trend Textile and LCC Development.
For this deal, the tenant was represented by a Cushman & Wakefield duo comprised of Ron Lo Russo and Jason Kroeger.
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