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
From left: 295 Fifth Avenue, 3 World Trade Center, 50 Rockefeller Plaza (Credit: Google Maps, Wikipedia)

These were NYC’s top office leases in October

Barney's at 660 Madison Avenue with Ashkenazy Acquisition Corporation's Daniel Levy (Credit: Getty Images, LinkedIn)

Barneys’ flagship Madison Avenue spot will stay open — but with a smaller footprint

(Credit: iStock)

It’s over for Barneys: Luxury retailer to be sold, stores closed

50 Rockefeller Plaza and Katten's Chris DiAngelo (Credit: Google and Katten)

Katten law firm moving to Rockefeller Center

An aerial view One World Trade Center in Lower Manhattan (Credit: iStock)

On anniversary of 9/11, the World Trade Center office market is now helping propel Downtown

Clockwise from top left: 733 Third Avenue, 24-01 44th Road in Long Island City, 83 Maiden Lane, and 1745 Broadway (Credit: Google Maps)

These were NYC’s top office leases in August

575 Fifth Avenue (Credit: Google Maps)

Beacon Capital lands $300M refinancing for Fifth Ave building

Clockwise from left to right: 50 Hudson Yards, Farley Post Office redevelopment, 1 Madison Avenue, and Apple CEO Tim Cook (Credit: Hudson Yards, Skanska, Google Maps, and Getty Images)

Apple on the hunt for enormous Manhattan office space

arrow_forward_ios