The two companies, Spin Master and Mega Brands, have committed to a total of 18,000 sf at the Eleventh Avenue. There is a July 31 deadline for the industry to commit to a minimum of 250,000 sf in signed leases. The building was first presented to the industry in a series of meetings that began June 20. Spin Master has signed on for 6,000 sf of space in the new building, while Mega Brands committed to 12,000 sf.
The building is being bought for the toy industry in a joint venture between the Feil Organization and Winoker Realty-RCG Longview. However, if commitments in the form of signed leases do not hit the 250,000-sf minimum by the end of this month, the deal will not go through.
The former toy center, located at 200 Fifth Ave., was sold to a developer and is the process of being converted into housing.
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