Vornado Realty is giving 330 W. 34th St., an 18-story office building built in 1925, a full-renovation.

NEW YORK CITY—Specialty apparel retailer New York & Company reports it has signed a 16-year lease for 180,000 square feet of space at Vornado Realty Trust‘s 330 West 34th St. building here.

Vornado is in the process of a full renovation of the 18-story, 637,000-square-foot office building that was built in 1925. New York & Company, which operates 507 retail locations in 43 states, says the decision to relocate to the Vornado building was made in advance of the expiration of its existing headquarters lease at 450 West 33rd St.

The company states that planning and design of its new headquarters space is underway.

New York & Company CEO Gregory Scott says of the move, “We are pleased that our new lease provides us with a smaller, more efficient, and cost effective alternative versus renewing the lease in our current location. Our new corporate headquarters will provide us with a modern space to house New York & Company’s business and brand, and provide us with a platform for future growth.”

In addition, he says, “Our new headquarters is in close proximity to our existing fashion district location and, while it is smaller than our current facility, it will feature an open work environment that will foster even closer collaboration among our associates, and provide creative space for design and product presentations.”

A Vornado spokesman notes that the company does not comment on leases.