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NEW YORK CITY-Parigi Group, a children’s fashion apparel company, has signed a long-term expansion lease at 112 W. 34th St.–enabling the firm to lease the entire fifth floor of the building, where it will occupy 40,719 sf. Parigi, which has been a tenant of the property since 1982, will move into its new space in January.

A spokesperson for the company tells GlobeSt.com that the tenant currently occupies 30,513 sf, the majority of the seventh floor. The building is part of the W&H Properties portfolio and is owned by 112 West 34th St. Associates LLC, a partnership led by Peter L. Malkin. They added that the average asking rent per sf at the building is $53.

Benchmark Properties represented Parigi Group in the lease negotiations; Cushman & Wakefield Inc. represented the landlord. The firm’s brands include Phat Farm Boys and Baby Phat Girlz, and it has long-term partnerships with J.Lo Girls by Jennifer Lopez, Puma Kids and Akademiks for Boys.

“We worked hard to accommodate the growth of this tenant,” says Barry Zeller, executive director of Cushman & Wakefield. “This building is not only an ideal location for high-end children’s wear companies–with a separate elevator bank and spaces specifically designed to meet their needs–but it also offers tenants the added bonus of flexibility to expand within the building.”

He adds: “Both office and showroom tenants appreciate the massive $60-million capital improvement program that recently began at the property, which will create an even more prestigious setting for conducting business.” Located across from Macy’s, 112 W. 34th St. contains 26 stories and more than 800,000 sf. The property’s $60-million top-to-bottom capital improvement program includes a new lobby, renovated elevators and bathrooms, air-conditioned public corridors, upgraded building systems and a modern, energy-efficient, and sleek new glass curtain wall with operable windows.

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