530 Seventh Avenue kicked off the New Year right where 2012 ended – with a flood of leasing activity by top fashion companies. In total, three apparel firms extended their leases at the prominent Fashion District tower owned by Savitt Partners.
“One of the biggest trends we are seeing is that existing tenants at 530 Seventh Ave are now committing to long-term leases in order to remain in the building, and in many cases, expand their showrooms,” said Bob Savitt of Savitt Partners.
Contemporary fashion company Kandy Kiss of California renewed its 3,800-square-foot lease. The Savitt Partners’ team of Marc Schoen and Michael Schoen represented the tenant in the negotiations, along with Brian Neugeboren and Bob Savitt, who acted on behalf of the ownership.
Rounding out the deals were On Leasing, Inc. and InnoKnits, both of which relocated, expanded and extended their leases. InnoKnits moved into On Leasing’s former 1,500-square-foot showroom, which represents a 400-square-foot expansion for the fashion firm, and extended their lease. In addition, On Leasing relocated from their 1,500-square-foot space to a 1,700-square-foot showroom, and also extended their lease.
With the On Leasing transaction, Marc Schoen and Brian Neugeboren represented the tenant, while Nicole Goetz acted on behalf of the ownership. Mr. Neugeboren also represented InnoKnits, while Mr. Savitt and Ms. Goetz once again represented the building ownership.
Built in 1930, the 490,000-square-foot, Art-Deco 530 Seventh Avenue is the premier location for many of the hottest fashion companies in the contemporary, junior and missy category, as well as designer, bridge, menswear, urban, footwear and accessory industries. In addition to Perry Ellis, other prominent tenants in the property include Zappos, Max Mara, New Balance, Chaus, Asics, Michael Stars, TKE, Point A Showroom, Swatfame/Speechless, DC Shoes, Hybrid Apparel, Carmen Marc Valvo, Onward Kashiyama, Heart Soul, Maggy London, Topson Downs, Un Deux Trois, and YMI Jeanswear.
