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Michael Kors snags biggest NYC office lease last month

Fashion and sports industries sign top Midtown spaces in March

Michael Kors, Major League Soccer, and the financial firm Betterment signed NYC’s top leases in March.
Michael Kors CEO John Idol with 11 West 42nd Street and Major League Soccer commissioner Don Garber with 2 Penn Plaza (Getty, VTS, Vornado)

An impressive tenant kicked its way onto last month’s list of the largest office leases in the five boroughs of NYC, but the professional soccer league in question is but one of the many large office tenants that worked their way onto the list. Other major tenants on the list include banks, clothing brands, and legal firms. 

1) Michael Kors | 11 West 42nd Street | Grand Central — 203K sf

11 West 42nd Street (Google Maps)

The clothing brand signed a deal to renew its massive HQ in the Grand Central building. The building is owned by Tishman Speyer and Silverstein Properties.

2) Major League Soccer | 2 Pennsylvania Plaza | Penn Plaza — 126K sf

2 Pennsylvania Plaza (Vornado)

The soccer league inked a new lease in the Penn Plaza building, relocating from a Fifth Avenue space only half the size. Joe Messina and Dan Posy of JLL represented the tenant, while a team from Cushman & Wakefield represented the landlord, Vornado Realty Trust.

3) Betterment | 5 Manhattan West | Hudson Yards — 113K sf

5 Manhattan West (VTS)

The financial services company inked a new sublease in the Hudson Yards building. Michael Mathias of Cushman & Wakefield represented both the tenant and the sublandlord, weight-loss app Noom. The building is owned by Brookfield Properties.

4) NYU Langone Health | 45-18 Court Square West | Long Island City — 105K sf

45-18 Court Square West (VTS)

The health system inked a new lease in the Long Island City building, relocating four of its research programs to the new space. The building, known as Innolabs, is owned by Kings Street Properties and GFP Real Estate.

5) Citizens Bank | 1301 Sixth Avenue | Midtown West — 74K sf

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1301 Sixth Avenue (Google Maps)

The bank signed a new lease in the Midtown West building. The building is owned by Paramount Group.

6) GTCR | 425 Park Avenue | Plaza District — 56K sf

425 Park Avenue

The private equity firm signed a new lease in the Plaza District building. The building is owned by L&L Holding Company.

7) Sumitomo Corp | 277 Park Avenue | Grand Central — 50K sf

277 Park Avenue (Americasroof at English Wikipedia, CC BY-SA 3.0, via Wikimedia Commons)

The American arm of the Japanese banking corporation inked a new lease in the Grand Central building. Marc Shapses and Eva Shih of Savills represented the tenant, while Bryan Boisi and Stephen Bellwood of Cushman & Wakefield represented the landlord, the Stahl Organization.

8) Arsenal Capital Management | 277 Park Avenue | Grand Central — 47K sf

The private equity firm signed a new lease in the Grand Central building. Josh Friedman and Neil Goldmacher of Newmark represented the tenant, while a 3-member Cushman & Wakefield team including Mark and Bryan Boisi represented the landlord, the Stahl Organization.

9) Orbital Kitchens | 42-45 12th Street | Long Island City — 35K sf

42-45 12th Street (Google Maps)

The food delivery startup signed a new lease in the Long Island City building. Adam Joly and Rachel Cohen of Igloo represented the landlord, Superior Management.

10) Cole Schotz | 1325 Sixth Avenue | Midtown West — 32K sf

1325 Sixth Avenue (Google Maps)

The legal services firm inked a new 77-year lease in the Midtown West building. A 3-member Cushman & Wakefield team including Justin Halpern and Ed Wartels represented the tenant, while Douglas Neye of Paramount Group represented the landlord in house.

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