99-Percent-Leased Home Textile Industry Hub Continues to See Strong Leasing Momentum from Home Design and Manufacturing Sectors
GFP Real Estate, LLC is pleased to announce three new lease transactions totaling 6,132 square feet at the Flatiron District’s 230 Fifth Ave., also known as The New York Market Center building. The 99-percent-leased specialty showroom building is the New York hub of the Home Textiles Industry, home to more than 140 luxury home fashion accessories companies from across the globe.
GFP Real Estate Principal Jane Gural-Senders and Leasing Director Harvey Richer represented the landlord, GFP Real Estate, and the tenants in each of the direct lease transactions listed below unless otherwise noted.
“Many of our showroom tenants have expanded their lines of business into new areas and need additional space to accommodate their growing businesses,” said Richer. “As one of the last true showroom buildings remaining, The New York MarketCenter continues to see strong demand from companies around the world looking for the ideal location to showcase their products to retailers and wholesalers—this is where they come to shop.”
Rugs America, a leading area rug manufacturer that “offers retailers with rug styles for today and tomorrow at virtually every price point,” signed a four-year lease for 1,198 square feet on the 12th floor. The company, which has created exciting collaborations with designers like Isaac Mizrahi and the Humane Society, also has warehouses in Georgia and Farmingdale, NY.
Lance Korman and Brian Waterman of Newmark represented the tenant, Rugs America, in the transaction.
Home Fashions International, a 26-year-old manufacturer of home fabrics, including woven solids, jacquards, chenilles, velvets, suedes, embroideries, heat transfer and pigment prints, signed an eight-year lease for 2,943 square feet on the 11th floor. Home Fashion International’s product can be found at major retailers nationwide, including Walmart, Kohl’s, TJ Maxx, Tuesday Morning, JCPenney, Sam’s Club, Kirkland’s, Burlington, Boscov’s and Ross, among others.
All For You Products, a “dynamic wholesale company in the houseware industry in USA” offering products for homes and offices including glassware, bedding, kitchenware, bath ware, laundry, storage, cleaning, hardware, organizational products, home Decor, decorative hardware, electronic accessories and more, signed a six-year lease for 1,991 square feet on the 11th floor, double the size of its previous space at the building.
Built in 1914 and designed by the architectural firm of Schwartz & Gross, 230 Fifth Ave. is a 20-story, 465,000-square-foot Beaux Arts-style office building located in the heart of the Flatiron District in Midtown South. Acquired by GFP Real Estate in 1958, the building is home to over 140 showrooms featuring a diverse collection of product lines and categories, including home textiles, decorative accessories, home furnishings, architectural products, art, and more.
About GFP Real Estate, LLC
Committed to building a better New York since 1952, GFP Real Estate is a vertically integrated owner, operator, property manager and developer of commercial real estate in the New York metropolitan area. With over 57 buildings and more than 13.8 million square feet under ownership, GFPRE’s portfolio includes some of New York’s most iconic real estate assets.
