The SEC filing further states that Guardian has agreed to pay monthly base rent to Coach of approximately $790,000 from March 1, 2019 through June 30, 2019 and monthly base rent ranging from approximately $1.1 million to $1.3 million depending on the period from July 1, 2019 through the expiration of the lease.

Another provision of the sublease is that Coach has agreed to reimburse Guardian for certain subtenant improvements in an amount equal to $80-per-rentable-square-foot, or approximately $11.9 million in the aggregate, subject to a deduction equal to $10.00 per rentable square foot, or approximately $1.5 million in the aggregate, for work previously performed by or on behalf of Coach.

The ownership of 10 Hudson Yards, a partnership of Related Companies and Oxford Property Group closed on the $1.2-billion refinancing of 10 Hudson Yards in August 2016. The deal also included the sale of 44% interest in the 1.7-million-square-foot high-rise office building by Coach Inc. to Allianz Real Estate in a $707-million sale-leaseback deal.

Deutsche Bank and Goldman Sachs provided $1.2 billion in debt financing. The 52-story building is now owned by a limited partnership that includes Allianz, Related Companies, Oxford Properties Group and institutional investors advised by J.P. Morgan Asset Management.

Coach reportedly paid $530 million for its 738,000-square-foot headquarters space in 2013. The firm, which took occupancy of its space at 10 Hudson Yards in 2016, entered into a 20-year lease for its space there as part of its sale-leaseback deal with Allianz.

Guardian Life has hired Cushman & Wakefield's Douglas Harmon and Adam Spies to market 7 Hanover Square, according to a report in the Commercial Observer.