Faviana, Garment District Dressmaker, Gets NYC Subsidies for LIC Move

Dressmaker Faviana International Inc has gotten NYC subsidies to relocate its Garment District office to Long Island City. The company, which was founded 17 years ago and is known for its prom and cocktail dresses, leases space at 500 Seventh Ave, but is facing pressure from rising rents in the evolving Midtown district, where TAMI tenants and hotels are driving demand. The dressmaker will get roughly $1.3M in city subsidies to acquire and renovate a 17.8k SF, two-story building at 31-10 Hunters Point Ave (pictured). The building will cost roughly $4.3M to purchase and another $260k to renovate, Crain's New York reports. According to its proposal to the New York City Industrial Development Agency, Faviana plans to build a loading dock at its new hub, to facilitate distribution of its 3,000 wholesale accounts and the growth of its online business. It will move eight of its 26 employees to LIC and hire four others over the next seven years. Its dresses are not manufactured in the city. Queens saw a 12.2% increase in the number of fashion jobs between 2009 in 2014. [Crain's]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

Pied-À-Terre Tax Won't Deter Buyers Long Term, Developers Say

Long Island City Lab Sells At A Loss: The N.Y. Deal Sheet

Ari Emanuel Invests In Broadway's Next Act With $6B Theater Buy

Yardi-Backed Flex Office Marketplace Launches In U.S. As Companies Plan To Up Attendance

SL Green Booted As Worldwide Plaza Manager Amid Foreclosure Battle

Wendy's Plots More Closures Amid U.S. Sales Slump

Comcast Consolidates To 140K SF In Times Square

Ramrock Real Estate To Redevelop Fort Worth's Ridgmar Mall Into Logistics Campus

Compass Coffee Says It Lacks Cash For Bankruptcy Plan, Seeks To Toss Case

Faneuil Hall Owner J. Safra Group Sues Tenants, Alleging $2M In Unpaid Rent

Orders To Vacate On The Rise, Leaving Tenants With No Home, No Timeline

Portillo's Lays Off Staff At Oak Brook HQ As It Slows Expansion