Barneys’ corporate HQ grows to 71K sf at 575 Fifth Avenue

Retailer renews office lease at 40-story Midtown office tower

TRD New York /
Feb.February 01, 2016 06:20 PM

UPDATED, 11:30 a.m., Feb. 2: Barneys New York will remain in its corporate headquarters building at 575 Fifth Avenue after signing a 71,000-square-foot lease renewal and expansion at the 40-story Midtown office tower, The Real Deal has learned.

The luxury department store chain is renewing its space on floors 9 through 11 at the 520,000-square-foot property, having already occupied a portion of the 9th floor and the entire 10th and 11th floors.

The new lease, signed in December, also represents a slight expansion of Barneys’ space in the building, with the company now taking the entire 9th floor at 575 Fifth Avenue.

A CBRE team led by Keith Caggiano, Gregg Rothkin and David Caperna represented landlords Beacon Capital Partners and MetLife, while Ross Perlman of Newmark Grubb Knight Frank represented Barneys.

Both brokerages confirmed the deal but declined to provide additional comment. A Barneys spokesperson declined to comment. The length of the lease and asking rents at 575 Fifth Avenue were not disclosed.

Boston-based Beacon Capital Partners acquired a 50 percent stake in an office condominium unit at 575 Fifth Avenue last year. MetLife owns the office building, having acquired it for $385 million from a partnership that included Fred Wilpon’s Sterling Equities in 2005.

Barneys, meanwhile, moved its visual department to a 10,000-square-foot manufacturing and office space in Long Island City last summer, as TRD reported.


Related Articles

arrow_forward_ios
The Old Post Office (Google Maps)

Here’s what tenants pay at 601W Cos.’ Old Post Office in Chicago

Here’s what tenants pay at 601W Cos.’ Old Post Office in Chicago
The Manhattan office market’s overall vacancy rate rose to a 24-year high of 13.3% in the third quarter (iStock)

Cushman & Wakefield paints bleak picture for Manhattan office market

Cushman & Wakefield paints bleak picture for Manhattan office market
Centric Brands CEO Jason Rabin and the Empire State Building at 350 Fifth Avenue (Centric; Pixabay)

Centric Brands downsizes at the Empire State Building

Centric Brands downsizes at the Empire State Building
55 Water Street, 399 Park Avenue, and 113-133 West 18th Street in Midtown South have each had tenants put up more than 150,000 sq ft for sublease since the pandemic began. (Google Maps)

Manhattan now has 16M sf of available office sublease space

Manhattan now has 16M sf of available office sublease space
590 Madison Avenue and IBM CEO Arvind Krishna (Google Maps; Getty Images)

Here’s what tenants are paying at the IBM building

Here’s what tenants are paying at the IBM building
From left: 245 Park Avenue, 420 Fifth Avenue and 1271 Sixth Avenue (Google Maps)

Rockefeller Foundation signs sublease in MLB’s old Park Avenue office

Rockefeller Foundation signs sublease in MLB’s old Park Avenue office
Facebook CEO Mark Zuckerberg, a rendering of the Farley Post Office building redevelopment and Vornado's Steve Roth (Credit: Getty Images, VNO)

Facebook snagged $100M discount on Farley Post Office deal

Facebook snagged $100M discount on Farley Post Office deal
Are New Yorkers coming back? These charts tell the story

Are New Yorkers coming back? These charts tell the story

Are New Yorkers coming back? These charts tell the story
arrow_forward_ios

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

Loading...