Shaw Industries, the world’s largest carpet manufacturer, has signed a long-term lease to occupy 7,963 square feet at 853 Broadway in Union Square, announced The Feil Organization, the building’s owner and manager.
The Berkshire Hathaway division will take occupancy of the entire third floor at the end of this year to use as a showroom. The third level is the first of three floors that recently were renovated with a glass curtain wall. “The striking visibility, combined with an exceptional view of Union Square as well as the building’s easy access to public transportation, made it the perfect location for Shaw,” commented Robert Fisher, Director of Commercial Leasing at Feil.
“This is the first of what we know will be many leases at the building since the renovation. It is proof positive that our investment in the property has, and will continue, to pay dividends in the long term,” Fisher said. “We welcome Shaw Industries to 853 Broadway and look forward to the opening of their state-of-the-art showroom.”
In addition to the recent façade renovation at the 21-floor office building, a full lobby renovation has also been completed. Other building tenants include Capital One Bank, Bond New York, LCM Commodities, TubeMogul, and MAC Cosmetics. Only two full floors remain available for lease.
Located at the southwest corner of Broadway and 14th Street, the 212,000-square-foot 853 Broadway is in the heart of the rapidly growing retail district in and around Union Square. Pedestrian traffic totals 350,000 people daily and nearly 250,000 consumers visit the nearby Union Square Greenmarket weekly. The Union Square subway station is the fourth busiest in New York City, with more than 34 million riders yearly.
Fisher represented The Feil Organization in the negotiations. Nicholas Weld and Michael Affronti of CBRE represented Shaw Industries. Legal counsel was provided to Feil by in-house attorneys Brian Palumbo and Michelle Frankel. Kevin Walsh represented Shaw.