Along with the chill in the air comes the welcome news the masses will not freeze, thanks to a new lease by the Burlington Coat Factory at 1400 Broadway. The vendor of $50 outerwear has just signed a 35,182-square-foot long-term lease for the entire 11th floor.
“Burlington Coat Factory’s selection of 1400 Broadway is another confirmation of the building as the address of choice in Manhattan for leading fashion companies,” said Fred Posniak, who represented landlord W&H Properties on behalf of Malkin Holdings.
That comes just a few months after Men’s Wearhouse agreed to take the 33rd floor. Kohl’s also moved into 60,366 square feet in the building earlier this year.
Perhaps Burlington was lured from its current haunt at 263 West 38th Street by the affordable asking rent of $47 a square foot. There’s also the fact the building is undergoing an $81 million renovation, including a spiffy new lobby.
But, really, we suspect the clothier to the common folk wanted to get in early on some of the city’s best views of the Macy’s Thanksgiving Day Parade.
Mr. Posniak was assisted by a Newmark Knight Frank team of Michael Frantz, Brian Waterman and Jonathan Fanuzzi. The tenant was represented by Alan Desino of Colliers International and Robert Stillman of CB Richard Ellis.
The New York Post first had news of the deal.