NEW YORK CITY-QRS Corp has taken an eight-year lease for the entire 19,000-sf third floor of 535 Fifth Ave. The previous tenant, iWon.com, has shifted its operations down to the building's second floor.
Cushman & Wakefield's Adam Rappaport, Owen Hane and Jeff Cohen brokered for QRS. Emmes Asset Management Co.'s David Turino and Richard Coles represented the owner, a division of Emmes Capital. Details of the transaction have not been released, however published asking rents for lower floors of the building range from $46 to $48 per sf.
Emmes purchased the building in 1999. The 255,000-sf property has 35 stories and was built in 1926 from a design by architect H. Craig Severance.
QRS provides technology-based management systems to retailers including Donna Karan, Saks Fifth Avenue, Polo, Tommy Hilfiger, Dillards and Sears.
Severance also designer 40 Wall St., which briefly held the title of world's tallest building, besting the Chrysler building by two feet. That honor reverted to the Chrysler when Severance's former partner, William Van Allen–architect of the Chrysler Building–surprised Severance by erecting the Chrysler's spire, one of its most notable features.
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