The Real Deal New York

Alexis Bittar moving HQ to Dumbo Heights campus

High-end jeweler inks deal for nearly 19K sf at 77 Sands

May 21, 2015 03:05PM
By Mark Maurer

Alexis Bittar NYC Office

From left: Alexis Bittar and a rendering of Dumbo Heights (inset: Freddie Fackelmayer)

High-end jewelry retailer Alexis Bittar is moving its office headquarters to the Dumbo Heights campus, The Real Deal has learned.

The company signed a 10-year lease for a full-floor 18,800-square-foot space on the 10th floor at 77 Sands Street, also known as 137 Pearl Street, according to sources familiar with the deal. The 12-story, 225,000-square-foot property is part of a five-building complex being developed by Jared Kushner’s Kushner Cos., Aby Rosen’s RFR Realty and Asher Abehsera’s LIVWRK.

Asking rent for the space is $58 per square foot, sources said.

This is the latest office lease to be signed after WeWork and Etsy locked down sizable spreads at both 77 Sands and 81 Prospect Street.

CBRE’s Freddie Fackelmayer and Ross Zimbalist, who are representing the tenant, declined to comment, as did representatives for the developers.

Since 2003, Alexis Bittar has been based at Two Trees Management’s Dumbo office building at 45 Main Street, where it occupies more than 26,000 square feet across three floors, according to CoStar Group data. The company has retail locations in the city at 465 Broome Street, 353 Bleecker Street, 1100 Madison Avenue and 410 Columbus Avenue.

Earlier this week, coffee shop Bluestone Lane inked a retail lease for the 55 Prospect Street building.

The developer acquired the Dumbo Heights complex in 2013 from the Jehovah’s Witnesses for a total of $375 million. Invesco Real Estate is an equity partner in the project.