Castle Hill Apparel Renews 20,354 SF

[IMGCAP(1)]NEW YORK CITY-Castle Hill Apparel has signed a long-term renewal of its lease for the entire 25th floor, encompassing 20,354 sf, at 1400 Broadway, a W&H property in Times Square South. Brian Waterman, EVP of Newmark Knight Frank, tells GlobeSt.com that Castle Hill renewed because its lease was due to expire.

A source close to the deal tells GlobeSt.com that the average asking rent for the property is $55 per rentable sf, although they could not provide specifics on the Castle Hill lease. The source also notes that the lease is for a 10-year term, but could not provide further details.

[IMGCAP(2)]Castle Hill supplies ladies’ clothing to such big-name retailers as Macy’s, Dillard’s and JC Penney. Grant Greenspan and Howard Rosenblum of Kaufman Adler Realty represented the tenant in the lease negotiations. Michael Frantz represented the landlord, along with Jonathan Fanuzzi and Michael DiSario of Newmark Knight Frank.