In New York's Midtown South, the office building at 37 West 37th Street has recorded two full-floor transactions. US apparel importer U.S. Legwork and homeware manufacturer Robely have each signed leases for 5,119 square feet in the 12-storey property. This was announced by leasing and management firm Koeppel Rosen, which handles the property for the owning Rosen family.
Both contracts were agreed for a term of ten years and ten months each. The asking rent in the property stands at $43 per square foot. Raymond Balassiano of LSL Advisors represented both tenant parties in the transaction, while Max Koeppel of Koeppel Rosen led negotiations on behalf of the owner.
Space utilisation by U.S. Legwork and Robely
U.S. Legwork is taking the fourth floor of the property. The New York-based firm specialises in the import and wholesale distribution of women's and children's clothing as well as accessories. It initially remained unclear whether the letting represents a complete relocation from its previous premises at 10 West 33rd Street.
The fifth floor will in future be occupied by Robely. The manufacturer and wholesaler develops and distributes lifestyle and home textile products. The company plans to use the new unit as a combined office and showroom space. Robely's existing showroom was previously operated at 104 West 27th Street.
Tenant mix and location appeal
Max Koeppel stressed that both deals demonstrate the appeal the property enjoys among companies looking for well-connected office space in Manhattan for their operations. Alongside the two new additions, the building features an established tenant roster spanning various sectors.
- —EW Howell Construction Group and ABS Engineering
- —Dance With Me Dance Studio
- —Designer Kim Seybert
- —Sound studio Hobo Audio
Representatives of Robely and U.S. Legwork were not immediately available for additional comment regarding the lease agreements.
