In a transaction arranged by The Schoen Group at Savitt Partners, Fu Da International, a wholesale distributor of women’s, children’s, and infants’ clothing and accessories, has renewed its 19,119 s/f showroom lease at Olmstead Properties’ 525 Seventh Avenue.
The average asking rent at the 23-story, Art Nouveau office tower located just south of Times Square is $60 psf.
The Schoen Group team of Marc Schoen and Brian Neugeboren arranged the transaction for Fu Da International. Steven Marvin of Olmstead Properties acted on behalf of the ownership.
525 Seventh Avenue is home to many of today’s top fashion companies, housing some of the hottest names in the contemporary, junior and missy category, as well as designer, bridge, menswear, urban and children’s wear.
With more than 520,000 s/f the building offers office and showroom space ranging from 900 square feet to full floors of 25,000 square feet. In addition to Fu Da International, other tenants include Betsy & Adam, Nicole Miller, Notations, NYC Alliance, Fashion Avenue Sweater Knits and Almost Famous. The building is near Times Square, Penn Station, Grand Central and Bryant Park.
Fu Da International is a New York-based privately held company founded in 1984.