Converse Renews, Leases Additional Floors

NEW YORK CITY-Just as Converse Inc., an athletic apparel manufacturer, celebrates its 100th anniversary, the Nike subsidiary renewed its 23,200-sf lease at 28 W. 23rd St. and leased an additional two floors, totaling 70,000 sf. The term of the lease is 10 years.

A source familiar with the deal tells GlobeSt.com that they cannot discuss aggregate lease values or taking rent, but they did say that asking rent was in the mid-$50s per sf. Converse will now occupy the top three floors of the 12-story landmark building, located on 23rd Street between Fifth and Sixth avenues.

The property houses Home Depot as well as Marc Ecko Enterprizes and office space for Interpublic and Mattel. Built in 1878, it is the former home of the Stern Brothers Department Store, one of the city’s first retail stores. The source says that the 440,000-sf building is currently 100% occupied.