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GFP Real Estate knitted together several lease deals recently at 230 Fifth Avenue.
Marketing firm Arroya Studio signed a lease for 4,245 square feet on the 12th floor while Turkish fabric company Maisonette Tekstil has signed a five-year lease for 3,989 square feet on the 13th floor.
GFP did not disclose the asking rent or the length of the lease for Arroya, but Transwestern pegged the average asking rent in the neighborhood as $65.32 per square foot in the first quarter of 2023.
Arroya Studios has already moved into the space, and it’s unclear where it relocated from. GFP did not say when Maisonette Tekstil will occupy the office, and it’s unclear if it’s a new space or a relocation for the firm.
“230 Fifth Avenue continues to draw in New York City’s most premier home design companies, manufacturers and distributors from across the globe,” Jane Gural-Senders, who represented both the landlord and tenants alongside Harvey Richer, said in a statement. “As one of the last remaining true showroom buildings in New York, 230 Fifth Avenue offers the ideal space for companies looking to showcase their home textiles, decorative accessories, home furnishings, architectural products, art and more to an international audience.”
Some of the other new tenants in the Garment District building are focused on textiles as well. These include Libeco Lagae renewing its five-year lease for 2,264 square feet on the 13th floor for five years; Marvel Home Fashions, which signed a five-year lease for 1,999 square feet on the 10th floor; Arkwright Home with a six-year lease for 1,867 square feet on the 16th floor; and LS Mills, which took 967 square feet on the 19th floor.
Fashion-oriented supply chain firm Reevooy signed a two-year lease for 870 square feet on the second floor, according to GFP Real Estate.
Altogether, the building from 1914 — designed by the architectural firm of Schwartz & Gross — stands 20 stories high and features 140 showrooms. GFP Real Estate has owned the property since 1958.
Mark Hallum can be reached at mhalllum@commercialobserver.com.
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