48 W. 37th St.
NEW YORK CITY—The company behind the t-shirts with maybe your favorite super hero or cartoon is moving their national headquarters but staying in Midtown South. Isaac Morris Limited agreed to an 11-year lease to rent 23,050 square feet at 48 W. 37th St. Asking rent was $45 per square foot.
The space is certainly more than a telephone booth as the licensed apparel maker is taking the entire third and fourth floors. The new location will also house licensing and art teams and an apparel showroom.
Founded 30 years ago, Isaac Morris Limited designs, manufactures and distributes boys' and girls' clothing that's licensed as brand and studio fashions. Disney, Marvel, Universal, Lego and Blockbuster are some of the companies whose characters Isaac Morris reproduces on the apparel. Intrepid Real Estate Group represented the tenant in the lease.
David Levy of Adams & Co., represented the landlord, Forty Eight Thirty Seven Associates. PropertyShark.com lists the property owner of 48 W. 37th St. as the JAG family trust, with Jeffery A. Goldmacher as the trustee. All Building Construction Group, Allure Eyewear, Backbone Digital, Prusik Group and Manhattan Business Interiors are also tenants according to the online real estate database.
Originally constructed in 1926, the building stands between Fifth and Sixth avenues. In the Garment District it shares some common roots with its new tenant. Yet Levy notes how things at the property and in the neighborhood have changed.
“48 W. 37th St. has proven to be a destination address given its ideal location in the heart of the Transit Triangle,” says Levy. “Isaac Morris' team members will enjoy a comfortable and community-centric environment as the building features well-lit, flexible spaces and the leading Equiem tenant engagement portal. The neighborhood also offers multiple transportation options and a growing lifestyle scene that will appeal to the firm's growing workforce.”
The clothing manufacturing company's new getaway won't be too far. Its last address was 20 W. 33rd St. between Fifth and Sixth avenues.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
