Furniture maker signs Park Ave renewal

Real Estate Weekly, Sept 8, 2004

Home furnishings manufacturer CHF Industries, Inc. has signed a 15-year, 53,494 s/f lease renewal on its headquarters at One Park Ave., in the center of the wholesale home furnishings industry area. The space will house the firm's corporate offices and a new expanded showroom.

"This building is perfect for CHF," said Daniel Horowitz, senior managing director of Studley and the broker who represented CHF in the transaction. "Not only does the company enjoy prominent building signage at the entrance, it also has the built-in equity of being in the same location for the past 15 years and being a familiar destination for its clients--home furnishing buyers from across the country."

"We were also able to quickly structure a transaction that was fiscally prudent for both CHF and the building's ownership SL Green Realty Corp. and Credit Suisse First Boston LLC," Horowitz noted.

According to Camillo Faraone, CHF's chief financial officer, since SL Green acquired the building two years ago and through the entire lease negotiation, the owners have been committed to CHF.

"We are looking forward to another successful 15 years here at One Park Avenue," he said.

CHF will occupy the entire ninth floor of the 20-story, 913,000 s/f art deco building, which spans the entire block between 32nd and 33rd Streets. The firm also leases approximately 18,000 s/f at 475 10th Ave., where it houses its Donna Karan Home Division.

Other prominent tenants located at One Park Ave. include NYU, American Media, Coti, Inc. and ADP.

SL Green was represented in-house by Steven Durels, senior vice president and director of leasing, and Amy Schustek, vice president.