Newmark Holdings announced that Settlement Housing Fund, a non-profit affordable housing developer, has signed a 10-year, 11,135 s/f renewal at 247 West 37th Street, an 18-story office building in the Garment District.
The announcement was made by Newmark Holdings co-CEOs Brian Steinwurtzel and Eric Gural. Matthew Mandell of Newmark Holdings represented the ownership. “The continued commitment at 247 West 37th Street by Settlement Housing Fund is a testament to our hands-on ownership strategy, where our focus remains on building relationships with tenants to help them grow and stay within our portfolio,” said Steinwurtzel.
The deal comes on the heels of a 16,247 s/f lease expansion by the Jewish Association Serving the Aging.
The organization, which has resided at 247 West 37th Street for five years, had been leasing 20,264 s/f of space and will now occupy 36,511 s/f.
In addition, construction company IBS signed a 10-year, 13,675 s/f renewal for the entire 12th floor at 274 West 37th Street.
Newmark Holdings carried out a capital improvement program atthe property which included an extensive redesign of the lobby that is now completed.
The new lobby includes a living wall featuring 21 different types of low-light tropical plants.