Fashion Showrooms for Rent

Fashion Showrooms for Rent

Fashion Showrooms for Rent in NYC, in and around the Garment Center, are in short supply in 2015. The primary reason for this is that an improved economy has stimulated strong leasing activity from fashion, TAMI (technology, advertising, media and internet) and professional offices. Other reasons include a re-positioning of some commercial buildings resulting in the exclusion of showroom Tenants, and redevelopment for residential or hotel use.   

 

As a result of this constrained supply rents have increased. The graph below which was provided by Costar, The Commercial Real Estate Information Company documents that the current average asking rent across all building classes was $48.05 PSF at the end of 2014. 

In addition, Tenant Incentives are being reduced. Tenant Incentives may include one or more of the following: (1) A Rent Abatement, a.k.a. free rent or rent holiday. This is provided to a Tenant as an incentive to lease space; (2) Renovation work performed by the Landlord for a Tenant prior to its moving in; and (3) A cash contribution, which is a fixed amount of “dollars per square foot” that is paid to a Tenant to reimburse it for money spent by the Tenant renovating the showroom.  

Buildings containing fashion showrooms are found throughout the city (even lower Manhattan) and vary in both quality and ambiance. While traditional lines usually favor full service office buildings, new labels often look for creative loft environments. Whatever your requirement may be, there are 100s of possibilities contained in Cogent Realty’s database. A small sample is described below.

10 West 33rd Street, aka The Fashion Accessories Center, is a dedicated showroom building with long-term ownership. Its large number of showrooms is attractive to visiting buyers and suppliers. Amenities include 24/7 access with a uniformed lobby attendant from 7:00 am to 10:00 pm, security monitoring, high speed elevators, modern telecom infrastructure and onsite management. Showrooms are equipped with an electronic keypad locking system, central HVAC and typically open ceilings and hardwood floors. Asking rents are $44- 55 PSF, depending on the location and finishes. Spaces are available from 900- 18,000 RSF. 

 

 

 

 

 

307 West 38th Street is just west of 8th Avenue and equidistant between Penn Station and Port Authority. This building’s eclectic Tenant mix includes showrooms, offices, art studios, light manufacturing and even distribution. 24/7 access and lobby guard. Most spaces are delivered as open lofts with concrete floors, unfinished ceilings and window AC. Landlord’s work is negotiable. Units from 1,600- 20,000 SF are available at rents from $39- 45 PSF. Preferred lease term is 3 to 5 years.

 

 

 

 

1412 Broadway is a Class B office building (1930) that was renovated in 2011. Amenities include 24/7 access, an attended lobby and central HVAC. (Many units have Tenant-controlled AC.) Its location between 39th and 40th Street places it steps from Bryant Park, the subway, and a short walk to Grand Central, Port Authority and Penn Station. The building is home to fashion showrooms as well as financial and professional service companies. Newly built loft-offices measuring 1,500- 3,000 RSF are available for immediate occupancy with asking rents of $55 PSF. A sample floor plan is found below.

 

 

 

 

 

 

How to FIND fashion showrooms in NY

Time is money and knowledge is power. Cogent Realty Advisors can quickly identify showrooms that match your specific location, design and budget parameters. Our access to inside information about recently signed contracts and “strike prices” assures that you will receive the best business and financial terms in your lease.

Cogent Realty Advisors has provided NO FEE Tenant Representation  to New York businesses for over 15 years. Contact Mitchell Waldman today:  (212) 509-4049.