Swimwear designer and manufacturer Longevity Brands will consolidate its two Manhattan offices and showrooms into its current Garment District headquarters, Commercial Observer has learned.
Longevity Brands inked a 10-year lease for 33,952 square feet at 250 West 39th Street between Seventh and Eighth Avenues, according to the tenant’s brokers, Savitt Partners. Asking rent was $56 per square foot.
The company currently leases 19,123 square feet on parts of the third floor and the entire fourth floor of the property. Under its new deal, Longevity will surrender that space and ditch its other 12,000-square-foot office at 1441 Broadway to take the entire eighth, ninth and 17th floors of 250 West 39th Street in October, a spokesman for Savitt said.
“Our client needed additional space to accommodate its growing operations and wanted to house all its offices and showrooms under one roof to enable more efficient collaborations,” Savitt’s Elliot Zelinger, who worked on the deal with Marc Schoen, said in a statement.
Cushman & Wakefield’s William Golden and Bill Fressle represented the landlord, Qatari real estate investment firm Alduwaliya Asset Management, in the deal. A spokesman for C&W declined to comment.
Alduwaliya bought the 18-story, 204,000-square-foot 250 West 39th Street for $123.5 million in December 2015, as CO previously reported. Other tenants in the property include the American branch of Japanese clothing and home goods retailer Muji U.S.A. and knitwear maker Stoll America.
