By Holly Dutton
Another furniture retailer has planted its flag in the Flatiron District.
New York Functional Furniture (NYFU) has signed a lease at 10 West 18th Street, between 5th and 6th Avenues, in what has become a trendy area for furniture companies and showrooms.
NYFU signed a 12-year lease for 3,000 s/f, which encompasses the entire retail floor of the building on West 18th Street, which is owned and managed by The Moinian Group. The nine-story building is also home to several creative firms in the design, tech, and media industries.
“The deal went very fast and smooth,” said Isabelle Sedghi, vice president of leasing at Moinian, who represented both parties in the lease. “We were open to a lot of users, but the new trend was toward furniture.”
NYFU makes modern and functional furniture, all of which is designed and manufactured in-house.
The company will use the lofty space, which features exposed brick, for retail, workshops, events, and as a showroom, office and photography studio. Previously, NYFU was primarily an online retailer, and this is the first brick and mortar location where NYFU has implemented this concept.
“They’re a great concept, and they fit right in with the neighborhood,” said Sedghi. “It’s a very trendy store that is perfect for that area.”
The furniture company officially opened a few weeks ago and is currently still in the grand opening stage.
Other notable furniture retailers in the neighborhood include Design Within Reach, Modani New York, and Hudson Furniture.
The Moinian Group has a portfolio of seven buildings in the Flatiron area, and tenants include Soul Cycle, Bounce Sporting Club, and Basta Pasta.