NEW YORK CITY—Apparel maker and retailer Vince LLC has signed a long-term lease at 500 Fifth Ave., taking the 19th and 20th floors of the 59-story office property for a total of 33,000 square feet. The deal brings 500 Fifth to 96% occupancy.
The property's leasing agents, Harry F. Blair and Sean N. Kearns, both of Cushman & Wakefield, represented landlord 500 Fifth Avenue Inc. The tenant was represented by Nicola Heryet and Stephen Bellwood of Cassidy Turley.
Blair says the Vince lease “adds yet another prestigious tenant to 500 Fifth. We were able to relocate existing tenants to assemble two full floors overlooking Bryant Park—a rare opportunity. The timing came together perfectly and we're excited to welcome Vince to the tenant roster.”
Deal terms were not disclosed. The Wall Street Journal reported Monday that the lease runs for 10 years. Asking rent at the 680,000-square-foot Art Deco landmark near Bryant Park in Midtown is $68 per square foot.
GlobeSt.com reported earlier this month that Vince, founded in Los Angeles in 2002, reported its 17th consecutive quarter of same-store gains. The company plans to open six to eight new stores this year.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
