Hip fashion designer Tory Burch has upped its commitment at Savitt Partners’ 11 West 19th Street in Chelsea, taking an additional 52,000 square feet in a sublease deal with marketing firm Epsilon Interactive.
The asking rent on the direct lease was $58 per square foot. The five-year deal increases the designer’s presence at the building to over 130,000 square feet, after first starting off with 26,000 square feet there six years ago, according to the New York Post.
Landlord Bob Savitt told the newspaper that Tory Burch is now the largest tenant in the building, which is now fully leased. “It speaks to the high demand for quality, well-appointed properties in the Flatiron district as well as to how successful Tory Burch has been during this time,” Savitt said.
Last year, Tory Burch inked a 10-year lease for 80,000 square feet at 350 Hudson Street in Hudson Square. [NYP] – Hiten Samtani