Gear Patrol will occupy a part of the eighth ground on the 11-story, 80,000-square-foot constructing between West 27th and West 28th Streets, representatives for Kaufman advised CO. The publication—which spotlights upscale males’s merchandise together with automobiles and watches—turns into the primary new tenant at 236 Fifth Avenue since Kaufman acquired a 99-year floor lease on the property final September. The true property funding agency subsequently kicked off a $10 million-plus capital enchancment program that features a renovated foyer, upgraded elevators and enhancements to the constructing’s technical capabilities.
Asking hire within the deal was within the excessive $70s per sq. foot, although Kaufman didn’t disclose the size of the lease. Gear Patrol is predicted to relocate from its present workplaces at 24 West 30th Road within the early fall.
Grant Greenspan and Jared Sternberg represented Kaufman in-house within the deal, whereas Sternberg and Kaufman’s Greg Albert represented the tenant.
In an announcement, Greenspan mentioned the newly repositioned 236 Fifth Avenue “is designed to enchantment to tenants that worth a workspace that adequately displays the identification of their manufacturers.” He cited the constructing’s “glossy design” in addition to facilities that embody “gourmand kitchens” and concierge and doorman providers.
“Gear Patrol was in the hunt for an workplace that provided each the comfort of entry to the town’s media and enterprise communities and likewise supplied a snug, inspiring ambiance for its workers,” Albert mentioned in an announcement, including that the prebuilt house at 236 Fifth Avenue “is a perfect match for Gear Patrol’s fashionable and fashionable tradition.”