Ben Elias Industries Renews Full Floor of 19,000 Square Feet At W&H Properties’ 1400 Broadway

July 13, 2010

NEW YORK CITY – Ben Elias Industries, a national apparel leader, has renewed its lease for the entire 29th floor, comprising 19,000 square feet, at W&H Properties’ 1400 Broadway, announces Fred C. Posniak, senior vice president of W&H Properties.

The firm has been a tenant in the building for 10 years, and uses the space for both office and showroom purposes.

“Ben Elias moved into 1400 Broadway a few years before the building became part of theW&H Properties portfolio and underwent a multi-million-dollar upgrade program,” says Mr. Posniak. “Now as a tenant in a Pre-War Trophy building, Ben Elias enjoys all of the benefits of this transformation.”

Founded by Ben Elias in 1945 on Allen Street on the Lower East Side of Manhattan, the third-generation company is regarded as one of the largest distributors in the U.S., offering over 8,000 styles of men’s, women’s, children’s and special-size apparel and accessories from the world’s top brand manufacturers and famous designer labels.

Paul Davidson and Michael Moorin of Newmark Knight Frank represented Ben Elias in the lease negotiations. Brian Waterman, Jonathan Fanuzzi and Michael Frantz of Newmark Knight Frank represented the landlord.

The new top choice for business and fashion, 1400 Broadway contains 37 stories and more than 900,000 square feet of modern office and showroom space. It offers convenient access to the Long Island Rail Road, New Jersey Transit, and Amtrak at Penn Station, the Port Authority Terminal, PATH, Grand Central Terminal, 15 subway lines and all major bus lines.

1400 Broadway’s on-going $81 million upgrade program includes a new lobby designed by lobby specialist architects Fifield Piaker Elman, with new entrance doors and canopy, a new ceiling, new lighting, and two new concierge desks with 24/7 security. Other renovations include new elevators, renovated air-conditioned public corridors and restrooms, new windows, and upgraded building-wide systems, including state-of-the-art electrical, plumbing, HVAC and security.

Part of the W&H Properties’ Pre-War Trophy office portfolio, 1400 Broadway is supervised by Malkin Holdings LLC, one of New York City’s most financially stable ownerships. W&H Properties is committed to sustainable property operations and development, including energy efficiency, water use reduction, waste and recycling and indoor environmental quality initiatives.

Available space ranges from W&H Portfolio standard high-end showroom pre-built spaces from 2,000 square feet, efficient full floors from 15,000 to 35,100 square feet, and two contiguous large blocks of space totaling 70,000 square feet each. Ground floor retail is also available on 38th Street, ranging from 1,000 to 3,700 square feet.

Broker commissions are paid in full at lease signing.