The Real Deal New York

Macy’s shifts some offices from Hippodrome to Herald Square

Retailer taking 120,000-square-foot space in building near flagship store

April 02, 2014 09:00AM

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112 West 34th Street and Scott Gottlieb

Macy’s is relocating several office divisions from the Hippodrome building into a Herald Square building near its store there.

The 120,000-square-foot office space at Empire State Realty Trust’s 112 West 34th Street will span the third, fourth and seventh floors. Asking rent was in the mid-$50s per square foot. Those groups at the company were based out of 1080 Sixth Avenue, on a long-term lease.

Under the agreement, Macy’s will have the option of expanding to 400,000 square feet at 112 West 34th, between Broadway and Seventh Avenue. Newmark Grubb Knight Frank broker Scott Klau and Jimmy Kuhn represented the landlord, while CBRE broker Scott Gottlieb represented the tenant.

Meanwhile, Macy’s CEO Terry Lundgren is considering major renovations to the store at 422 Fulton Street in Downtown Brooklyn, as previously reported. [NYP]Mark Maurer

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