The Real Deal New York

Talbots inks 12-year lease at Morgan Stanley’s 2 Park Avenue

January 15, 2014 02:16PM

From left: Tara Stacom and 2 Park Avenue

From left: Tara Stacom and 2 Park Avenue

Women’s clothier Talbots has inked a deal for nearly 50,000 square feet of space at Morgan Stanely’s 2 Park Avenue, between 32nd and 33rd streets.

The Hingham, Mass.-based company inked a 12-year deal for the 49,574-square-foot space and will pay rent in the low $50s per square foot. The price is a slight uptick from what previous tenant Penn Mutual paid — in the upper $40 per square foot.

Cushman & Wakefield’s Tara Stacom, Mitchell Arkin, David Green, Whitten Morris and Lauren Hayes represented the landlord in the deal, the New York Observer reported. Information on Talbots’ representatives was not available, the paper said.

Landlord Morgan Stanely purchased 2 Park Avenue for $519 million in 2007. The tower is now home to Pret a Manger, Chase Manhattan and HSBC. Swedish media company Bonnier Corp. inked a 27,000-square-foot sublease from book marketer Bookspan in September, and handbag maven Kate Spade picked up an additional 39,300 square feet of space there in July. [NYO]Julie Strickland

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