Barry Bernstein, Executive Director/Leasing, Resolution Real Estate Partners LLC, a member of NAI Global, has arranged a 10-year lease at 242 West 38th Street for high-end women’s fashion apparel distributor Nancy Yang Fashion, featuring 5,700 square feet spanning three floors. The breakdown of the space comprises 2,500 square feet on the ground floor, 1,300 square feet on the mezzanine floor, and 1,900 square feet on the basement level.
“We were able to accommodate the tenant’s long-term needs for multi-use space at a time when buildings in this area are actively leasing up again,” points out Mr. Bernstein. “Although the types of businesses in this area have become diverse over the past few years with tech firms, travel agencies, and other sectors, it is great to have a prominent apparel company here, too.”
Mr. Bernstein represented the landlord, 242 West 38th Street LLC, and the tenant on the transaction. Asking rent was $75-per-square-foot. Nancy Yang Fashion is planning to move into the new space in the spring.
The recently renovated building boasts a new attended lobby, new elevator cabs, 24-hour access, and new façade.