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Lease buyout completed for Crystal Brands, Inc.

Galbreath Riverbank has completed a lease termination of close to 30,000 square feet of the 4th floor at 1372 Broadway on behalf of Crystal Brands, Inc. Galbreath Riverbank's Executive Director Mitchell Konsker, Vice Chairman Bruce Mosler and Associate Mathew Astrachan represented Crystal Brands in this deal. Galbreath Riverbank also represents Crystal Brands in a national consultancy assignment. The transaction was negotiated with 19 New York Properties LimitedPartnership, the entity which owns 1372 Broadway, and was handled by Dolores O'Connor of First Winthrop Corp.

Crystal Brands' Izod Division was occupying the office space. As part of Galbreath Riverbank's overall pl an, Izod has moved its New York offices to another pre-existing office in Manhattan. The lease termination at 1372 Broadway became possible due to the growth of a present tenant in the building, Capital Mercury Shirt Company, which expanded into Crystal Brands' space on the 4th floor. Steve Apple and Howard Wendy of Edward S. Gordon Company represented Capital Mercury Shirt in the expansion.

Crystal Brands produces high quality sportswear for men, women and boys which are marketed and sold through better department and specialty stores under such names as Evan-Picone, Gant, Izod, Salty Dog and costume jewelry under the brand names Monet, Trifari and Marvella.
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Title Annotation:lease termination at 1372 Broadway, New York, New York
Publication:Real Estate Weekly
Date:Apr 28, 1993
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