Town Residential renews Flatiron District lease

April 01, 2013 01:15PM

Residential brokerage Town Residential has renewed its retail lease at 110 Fifth Avenue in the Flatiron District for an additional 10 years, the Observer reported.

Its office — home to 125 agents and staff members — includes 17,000 square feet of space on the sixth floor of the building.

“As we continue to unroll the Town business model at 110 Fifth Avenue, we are proud to reaffirm our belief in the Town hallmarks that have been a mainstay of Town Flatiron since we opened doors in December 2010,” Andrew Heiberger, Town’s CEO, told the Observer.

The building, between West 17th and West 16th streets, is located on “Ladies’ Mile,” known for its upscale fashion retailers, the Observer noted. Sources also told the Observer that retailer H&M is rumored to be taking the top three floors of the building.

Chris Mongeluzo, an executive managing director at Newmark Grubb Knight Frank, represented Town and landlord Rabina Management in the deal. [Observer] –Hayley Kaplan