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Deals & Dealmakers

Fashion tenants go short and sweet in Garment District

Turkish textile designer Zateks Dizayn is moving up in the Garment District.

The Istabul-based entrepreneur has leased a new 1,700 s/f space at GFP Real Estate’s 209 West 38th Street to expand the  New York division of his company Zateks Textiles Inc.

The relocation from a smaller space at 255 West 36th Street was arranged by Evan Lieberman of HSP Real Estate Group.

EVAN LIEBERMAN

“Despite the uncertainty in the market, several fashion-based companies are looking to stay in New York City, as well as expand their footprints in the Garment District,” said Lieberman, who arranged two new leases in the Garment District over the summer.

Hip-hop favorite Millennial/Gen Z signed a five-year deal for 1,000 s/f at 214 West 39th Street, and NYC Idol Apparel, a company that produces collections for Decode Activewear, took 1,500 s/f at at 226 West 37th Street.

“The lease terms may be shorter for the time being, but the moves are happening faster, which I call ‘hyper-switching.’ This particular transaction took only three weeks, from start to finish.”

Working with Lieberman on behalf of the tenants for the three-year lease-term was Michael Dylan of Inceptum Inc. The landlord, GFP Real Estate Group was represented inhouse by Matthew Mandell, Senior Managing Director. Asking rent was $45 psf.

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