By REW Staff
In a boost to the ongoing upgrade and repositioning of its landmarked Meatpacking District office building at 320 West 13th Street, owner William Kaufman Organization has completed a long-term 79,000 s/f lease with the fashion house, Theory Holdings LLC, for multiple full floors at the historic property.
The contemporary apparel and accessory designer will occupy a portion of the ground floor and the entire 2nd, 3rd and 4th floors of the building, which is situated at the intersection of West 13th, Horatio and Gansevoort Streets in the Greenwich Village Historic District. The lease is an expansion for Theory, which also operates from offices at 40 Gansevoort Street.
The closing of the lease transaction comes shortly after the historic property was officially renamed 2 Gansevoort Street, an address that reflects not only the transformation of the building, but the changing nature of the Meatpacking District, which is attracting a host of creative/technology companies to its boundaries.
The soon-to-be-modernized 2 Gansevoort, which was built in 1912 and originally designed as a warehouse and trade school, was acquired by the William Kaufman Organization in 1948.
Michael Lenchner, director of leasing for Sage Realty Corporation, the leasing and management division of the William Kaufman Organization, said, “The building’s prized location along the Silicon Alley corridor places it at the epicenter of New York City’s booming creative and technology hub.”
Brian Waterman and Lance Korman of Newmark Grubb Knight Frank represented the tenant while Lenchner represented the building’s ownership in-house. Asking rents at the property are in the $90 to $115 psf range.
The 23,000 s/f 7th floor will become available in February 2016, as well as 18,842 s/f on a portion of the 5th floor in January 2017.