The Real Deal New York

Gucci moving to L&L’s 195 Broadway in FiDi

Luxury retailer is negotiating for 80K sf
April 16, 2015 09:00AM

In Gucci’s search for new Downtown offices, the luxury fashion house landed on 195 Broadway, where it is negotiating for an 80,000 square foot lease across two floors.

The Financial District building at Fulton Street is owned by L&L Holding Company, and asking rent is $55 per square foot, the New York Observer reported.

Sushi restaurant Nobu also signed a lease in the building earlier this year.

Gucci has been looking for a new space since selling its current digs at 685 Fifth Avenue to Thor Equities last year.

Cushman & Wakefield‘s Bruce Mosler, Mark Mandell and Ethan Silverstein will represent Gucci in the deal, while while David Berkey and Andrew Wiener will represent L&L.

L&L and partners picked up the building for $206 million in 2005. [NYO] — Tess Hofmann