Fashion school leases 25,000 s/f on E.45th.

Hunter Realty Managing Directors Gregory E. Kraut and Richard A. Gottlieb, have orchestrated a lease for 25,000 square feet at 216 East 45th Street for the Laboratory Institute of Merchandising (LIM), the college for the business of fashion, announces Peter E. Sabesan, principal of The Hunter Realty Organization, LLC.

The school, which owns a building at 12 East 53rd Street and has administrative and academic space at 226 East 54th Street, is expanding.

The new space will house administrative offices, classrooms, computer labs and a 5,000 s/f state-of-the-art library. Founded in 1939, LIM is a private college offering undergraduate degrees in the study of fashion merchandising.

"Finding the appropriate space for classroom use in midtown Manhattan was quite a challenge," says Mr. Kraut. "Moreover, the school was very clear that the new facility had to be close to its other sites in the East Fifties. A lot of effort went into this deal and the building's managing agent, Bernstein Real Estate, really worked with us to make it happen."

Mr. Kraut and Mr. Gottlieb represented the tenant Laboratory Institute of Merchandising (LIM). Peter Liptrot of Bernstein Real Estate, the managing agent, represented the owner, Janco Co. The lease term is 15 years.