GFP Real Estate Signs Indecor Home to 16,806-SF Lease on W. 37th
The lease is GFP's third round of deals at the 1924 building in under a year, pushing its cumulative new leasing there past 30,000 square feet.
GFP Real Estate has signed Indecor Home, a designer and manufacturer of bath accessories, shower curtains and rugs, to a 16,806-square-foot, 10-year lease covering the entire fifth floor at 247 West 37th Street in Manhattan’s Garment District.
Why it matters
GFP Real Estate signed Indecor Home, a designer and manufacturer of bath accessories, shower curtains and rugs, to the entire fifth floor at 247 West 37th Street in the Garment District. The 16,806-square-foot, 10-year lease is Indecor’s relocation from 240 Madison Avenue and gives it executive, sales and design offices plus a home products showroom. For a New York office market still working through post-pandemic demand, a full-floor manufacturing and showroom tenant signing a decade-long term is a vote for the Garment District’s mixed office-and-light-industrial footing over pricier Midtown towers.
The numbers
The 19-story, 271,000-square-foot building, built in 1924, carries BBL 1-00787-0011 in NYC Planning’s parcel registry (Block 787, Lot 11 in Manhattan), confirming the Garment District address independent of the trade coverage. Matthew Mandell represented landlord GFP Real Estate in-house; David Menaged of Intrepid Real Estate Group represented Indecor. Asking and effective rent on the deal were not disclosed. The lease is GFP’s third leasing push at the property since December: a 4,051-square-foot, five-year deal with knitwear maker Knit Illustrated, then 9,370 square feet split among three tenants including apparel maker AJC Trading’s 10-year, six-month term on the seventh floor in March. Combined, the four deals account for 30,227 square feet, roughly 11% of the building’s total area, in under a year. The building also houses security firm Heightened Security.
What’s next
Indecor’s move-in timeline was not disclosed in the reporting. With four tenants added since December and the fifth floor now full, GFP’s next test at 247 West 37th Street is whether it can keep the pace on the building’s remaining vacancy without discounting face rents, which neither GFP nor Indecor’s broker disclosed for this deal.
On the record
Primary record
- Public recordStacking the fifth-floor deal against GFP's two prior 247 West 37th Street leases (Knit Illustrated's 4,051 sq ft in December 2025 and the 9,370 sq ft signed in March 2026) puts the building's new leasing since December at 30,227 sq ft, about 11% of the property, in four deals in under a year.View the record on commercialobserver.com
- NYC Planning GeoSearchParcel record, 247 West 37th Street (BBL 1-00787-0011)
Also reported by
- Commercial ObserverIndecor Home Signs 17K-SF Lease at GFP's 247 West 37th Street