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Deals & Dealmakers

Colliers gets to the art of the deal at 232 East 59th St.

Colliers International has arranged a long-term  showroom lease for Julius Lowy Frame & Restoration Company, completing 17,000 s/f of new leasing at The Fine Arts Building, located at 232 East 59th Street and home to a number of prestigious European and American creative firms.

An art frame and fine art conservation and restoration firm, Julius Lowy leased 3,500 s/f on the 4th floor.

MICHAEL THOMAS
MICHAEL THOMAS

Julius Lowy is now the third new fine arts, luxury home furnishing, and interior design industry tenant signed by Colliers International since the brokerage firm became exclusive leasing agent for the cast-iron building at the end of 2013.

In recent months Colliers also arranged a 10,000 s/f showroom lease for home furnishings, accessories, art, and interior designer Michael Dawkins, and a 3,500-square-foot showroom lease for Gerald Bland, a fine arts and antiques gallery.

“The addition of these three well-known design tenants signals the lasting appeal of the asset’s historic and architectural charm,” said Michael Thomas, a Director of Global Brokerage Services at Colliers who exclusively represented the building’s ownership in the three transactions.

Thomas further noted that with planned renovations for the lobby, common corridors, and retail facade, additional showroom space may also come onto the market.

Nicholas Judson of Judson Realty represented Julius Lowy Frame & Restoration Company, Sarah Shannon of Sinvin represented Michael Dawkins Home, and Matthew Slonim of Besen Associates represented Gerald Bland Inc. Besen handles property management.

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