Back in Manhattan: Puma inks 24K sf lease deal at SL Green’s 609 Fifth Avenue

Sportswear company had previously been rumored to be looking at 592 Fifth

New York /
May.May 17, 2018 11:00 AM

609 Fifth Avenue and Puma CEO Bjørn Gulden

Puma is returning to Manhattan—but about one block away from where previous rumors had placed it.

The German sportswear company has inked a 15-year lease for 24,000 square feet across three floors of SL Green Realty’s building at 609 Fifth Avenue, according to the real estate investment trust. This will be Puma’s only store in Manhattan.

The price of the lease was not immediately clear, but the most recent quarterly report from Cushman & Wakefield pegged retail asking rents on Fifth Avenue between 49th and 60th streets at an average price of $2,982 per square foot.

SL Green is renovating the building, which includes relocating the office lobby from Fifth Avenue to 49th Street.

Robert Gibson and Greg Covey of JLL represented Puma in the deal, while a Cushman & Wakefield team led by Steve Soutendijk represented SL Green.

Puma was previously in talks for a new store at 592 Fifth Avenue, an 11-story building owned by United Overseas Bank and located just a block away from 609 Fifth Avenue. The famed shopping corridor is also home to Adidas at 565 Fifth Avenue and Asics at 579 Fifth Avenue.

Puma once had stores at 421 West 14th Street, 33 Union Square West and 521 Broadway, but all of those have closed. It still maintains a store in Elmhurst, Queens at the Queens Center.


Related Articles

arrow_forward_ios
The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)
SL Green puts Daily News building up for sale
SL Green puts Daily News building up for sale
SL Green snags private-equity firm at One Vanderbilt
SL Green snags private-equity firm at One Vanderbilt
SL Green snags private-equity firm at One Vanderbilt
SL Green’s locks in big bank lease at Hudson Yards redevelopment site
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
Neumann reveals his vision for Flow renters to “feel ownership”
Neumann reveals his vision for Flow renters to “feel ownership”
Neumann reveals his vision for Flow renters to “feel ownership”
L&L Holding Company’s David Berkey and Polsinelli’s Gabriel Dabiri along with 600 Third Avenue (Getty, L&L Holding Company, Polsinelli)
L&L, BlackRock sign law firm to renewal, expansion at 600 Third Ave
L&L, BlackRock sign law firm to renewal, expansion at 600 Third Ave
From left: Adam Weiner and John Fish (Getty, LinkedIn, Curry)
Developer destroyed potential evidence in battle over $800M project
Developer destroyed potential evidence in battle over $800M project
Fromk left: Mauricio Umansky, Christian Ulbrich, and Scott Rechler
They said what now? Real estate quotes of the week
They said what now? Real estate quotes of the week
RXR's Scott Rechler, Tamir Shemesh, Richard Meruelo, and Maria Meruelo (Getty, Serhant, Coldwell Banker)
Breakups, layoffs and walkaways: No love in real estate last week
Breakups, layoffs and walkaways: No love in real estate last week
arrow_forward_ios

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

Loading...