Revlon Subleases 151,484 SF at 237 Park

NEW YORK CITY-Following a lengthy search, Revlon Consumer Products Corp. inked a deal for 151,484 sf to occupy the twelfth, fourteenth, and part of the thirteenth floors of 237 Park Ave., a 21-story tower owned by Max Capital Management Corp. Asking rents in the area range in the mid-$50 per sf range. Revlon is currently located at 625 Madison Ave. and plans to move to its new headquarters space by mid-summer.

Insignia/ESG’s Robert Alexander, Jason Gorman, Lewis Miller, Peter Turchin, and Jonathan Walsh arranged the 11-year deal on behalf of sublessor Credit Suisse Asset Management, the institutional and mutual fund asset management arm of Credit Suisse First Boston, while Joshua Kuriloff and Robert Thuss of Cushman & Wakefield acted for Revlon. “The nature and quality of the existing installation was a major decision factor for Revlon,” says Miller. “This transaction continues the trend in the market of built spaces attracting the most attention.” He adds that Credit Suisse Asset Management will remain in the building and consolidate its operations on the fifteenth, sixteenth and seventeenth floors.