Avon inks big deal at 777 Third Avenue

New York /
Jan.January 19, 2010 10:00 AM

Avon, the beauty giant which had reportedly been angling for nearly 250,000 square feet at the William Kaufman Organization’s 777 Third Avenue, made the deal official last night after less than three months of negotiations, the Post reported. The 15-year lease on floors two through 11 outsizes all leases signed in 2009, with the exception of the Gap’s move to 40 Worth Street. Sources told the Post that Avon will receive one year of free rent, after which the company will initially pay in the low $40s per square foot. Rent will gradually increase from there to the low $50s per square foot. Avon, which is currently located at 1251 Avenue of the Americas, plans to move to 777 Third Avenue in early 2011. It is keeping its smaller offices at 1345 Sixth Avenue for the time being. Avon’s new digs were previously occupied by Grey Group, an advertising firm that relocated to 200 Fifth Avenue. Peter Riguardi and Frank Doyle of Jones Lang LaSalle and Michael Lenchner of Sage Realty represented the Kaufman Organization in the deal. CB Richard Ellis’ Jon Zuckerman and Leonard DiMicelli with Cushman & Wakefield’s Dale Schlather represented Avon. [Post]


Related Articles

arrow_forward_ios
Paramount CEO Albert Behler and 60 Wall Street (Getty, Paramount Group)
Paramount Group plans $250M facelift for 60 Wall
Paramount Group plans $250M facelift for 60 Wall
Commercial real estate investment was harder-hit in the New York metro and Bay Area than in Greater Los Angeles. (iStock)
LA was top spot for commercial property investment in Covid-ravaged year
LA was top spot for commercial property investment in Covid-ravaged year
WATCH: How climate change puts real estate at risk
WATCH: How climate change puts real estate at risk
WATCH: How climate change puts real estate at risk
Cushman & Wakefield CEO Brett White (Cushman)
Cushman eyeing M&A opportunities post-pandemic
Cushman eyeing M&A opportunities post-pandemic
Illustration of Amazon's Jeff Bezos (Photo illustration by Kevin Rebong for The Real Deal)
No room in the warehouse: Amazon fuels shortage
No room in the warehouse: Amazon fuels shortage
President Joe Biden (Getty)
Biden’s proposal to cut 1031 exchanges may be “tremendous blow” to real estate: experts
Biden’s proposal to cut 1031 exchanges may be “tremendous blow” to real estate: experts
The Plaza Hotel, St. Regis Hotel, and Waldorf Astoria (iStock)
Outlook for hotels improves — from awful to merely bad
Outlook for hotels improves — from awful to merely bad
CBRE’s Darcy Stacom and Bill Shanahan; Cushman & Wakefield’s Doug Harmon and Adam Spies
Titans of the towers: TRD’s annual ranking of NYC’s top investment sales firms
Titans of the towers: TRD’s annual ranking of NYC’s top investment sales firms
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...