NEW YORK CITY - DSW Designer Shoe Warehouse, a national retailer of high-fashion shoes
for women and men, has signed a lease to occupy a portion of the fifth floor at 501
Seventh Avenue, a W&H Properties Pre-War Trophy building in midtown Manhattan. The
tenant will take occupancy this fall.
Based in Columbus, Ohio, DSW operates a growing chain of more than 300 stores in 39
states. The New York Stock Exchange-listed firm recently reported net sales of $865
million for the first six months of fiscal 2010, an increase of about $110 million, or nearly
15 percent, compared with the same period in fiscal 2009.
"501 Seventh Avenue, like all of the buildings in the W&H portfolio, is attracting big-name
tenants, and DSW is a great example," says Fred C. Posniak, senior vice president of W&H.
Jonathan Fales of CBRE represented the landlord in the transaction; Jared Horowitz of
Cushman & Wakefield represented DSW.
Located at West 37th Street, steps from Penn Station, 501 Seventh Avenue comprises 18
stories and approximately 500,000 square feet of modern office and showroom space.
The building offers convenient access to the Long Island Railroad, New Jersey Transit and
Amtrak at Penn Station, Port Authority Terminal, the PATH, 11 subway lines and all major
501 Seventh Avenue is the recipient of two prestigious Building Owners & Managers
Association New York (BOMA/NY) Pinnacle Awards: Operating Office Building of the Year
in 2007 and Renovated Building of the Year in 2006. A $53 million upgrade program that
led to the latter included a fully renovated lobby, new elevators and windows, renovated
air-conditioned public corridors and restrooms, 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, the property 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
Available space at 501 Seventh Avenue ranges from 1,500-square-foot suites to two
contiguous tower floors of approximately 25,000 square feet each.
Broker commissions are paid in full at lease signing.