Lease terms were not disclosed; the asking rent for the space was $36 per square foot. Michael Heaner of the Kaufman Organization represented the tenant in the transaction; while Joseph Mangiacotti of CB Richard Ellis represented the landlord.
The space will be divided into multiple offices and showrooms for the licensing brands represented by Old Toledo Brands. They include the Jeep men's sportswear line, Kilimanjaro travel gear, Jane Post outerwear and Pro Active athletic apparel.
"Old Toledo Brands is a company that represents multiple fashion lines for several different licensing brands," says Heaner in a release. He adds that the 240 W. 37th space is "a perfect fit because it gives the company enough space to work on and showcase its various offerings." The tenant is currently located at 260 W. 39th St.
In other news, the Kaufman Organization brokered a seven-year, 3,500-square-foot lease in the 2.3-million-square-foot Starrett Lehigh Building, at 601 W. 26th St., for designer Elise Overland, Inc. Although the terms of the lease were undisclosed, the asking rent was $39 per square foot.
Heaner and colleague Grant Greenspan represented the tenant, while Peter Thorsen of 601 West Associates LLC represented that landlord. Elise Overland was previously located at 330 W. 38th St.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
