Newmark Grubb Knight Frank (NGKF) announced the completion of a five-year sublease at 550 Seventh Avenue.
Senior managing director Paul Davidson and associate director Matthew Feigen represented the tenant, Ben Elias Industries Corp., in the transaction.
Ben Elias Industries Corp. is a 70-year-old, fourth-generation, family-run apparel company.
The 11,695 s/f space at 550 Seventh Avenue will serve as the company’s new showroom, occupying the entire 12th floor.
With its original showroom a few blocks away at 1400 Broadway, Ben Elias Industries Corp. was looking to relocate to an appropriately-sized space, where it could refresh the business and operate more efficiently.
550 Seventh Avenue is home to a number of fashion tenants, including Ralph Lauren, Lily Pulitzer and other well-known brands. The Art Deco building comprises 23 stories and has a newly renovated lobby.
“In addition to the prime location and building amenities, the tenant was attracted to the strength of both the tenant roster and the ownership found in The Adler Group,” noted Davidson.