Jewelry Retailer Signs for 10,000 SF on West 57th St.

NEW YORK CITY-Mikimoto, a jewelry firm specializing in cultured pearls, has relocated from 10,000 sf of space at 40 West 57th St. to 11,000 sf at 680 Fifth Ave., known as the Buchmann Tower. The space is being subleased for an 18-year term from the Gap.

The offices will house the company’s American headquarters on the fourth floor of the 26-story, class A tower, where it will be neighbors with Tiffany & Co. and footwear retailer Cole-Haan. This location allows the firm to stay close to its New York flagship store at 730 Fifth Avenue.

Daniel O. Horowitz, corporate managing director and Jeffrey I. Peck, assistant director with Julien J. Studley’s Midtown office represented the tenant. Terms were not disclosed although Horowitz noted that it was able to negotiate favorable terms, in part, because the Gap’s lease was signed when market conditions were much more favorable to tenants.

Managing directors Brian Feist and Eric Schmall and Kenneth Witler, corporate managing director, also of Studley’s Midtown office, dealt for the Gap.