MAC Cosmetics has signed a lease for 86,000 square feet of office space at Stellar Management’s One Soho Square.
The company, a subsidiary of the Estée Lauder Companies, will move to the 10th floor and the all-glass penthouses on the 11th through 13th floors at 233 Spring Street, the New York Post reported. The Real Deal first reported in October that MAC was in late-stage negotiations with Stellar for the space.
The asking rent for the offices was $125 per square foot. A CBRE team led by Steve Siegel, Greg Tosko, Lewis Miller and Sacha Zarba represented MAC in the deal. Stellar was represented by Brian Waterman, David Malawer, Andrew Peretz and Brent Ozarowski of Newmark Grubb Knight Frank.
The Larry Gluck-led Stellar purchased two loft buildings at 233 Spring and 161 Avenue of the Americas — now respectively known as One Soho Square West and East — for $200 million in 2012. Late last year, Stellar bought out former partner the Rockpoint Group in a deal that valued the property at $650 million. [NYP] — Kathryn Brenzel