285 Madison Ave./Photo credit: RFR Realty
NEW YORK CITY—Tommy Hilfiger has expanded its corporate headquarters at RFR Realty's 285 Madison Ave. The multinational apparel company leased an additional 14,054 square feet, extending its footprint to approximately 220,000 square feet in the Midtown East skyscraper. The asking rent in the Tommy Hilfiger lease was $78 per square foot.
With the transaction, the tenant leased the balance of the 10th floor, now taking the floor in its entirety. Tommy Hilfiger is occupying the second, third and sixth through 12th floors. The well-established brand is known for designing men, women and children's clothing, and shoes, accessories, fragrances and home furnishings.
Jones Lang LaSalle's Mitchell Konsker, Alexander Chudnoff, Dan Turkewitz and Diana Biasotti, and RFR's AJ Camhi and Ryan Silverman represented the landlord. Konsker as well as Matthew Astrachan and Steven Bauer, also with JLL, represented the tenant, PVH Corp., the parent company of Tommy Hilfiger.
In addition, Quantitative Brokers signed a new, long-term lease in the building for 7,070 square feet on part of the 17th floor. The asking rent was $82 per square foot.
The independent, global financial tech company provides algorithms and data-driven analytics to clients in the futures and US Cash Treasury markets. Launched in 2010, in addition to New York City, the company has offices in London, Sydney and Chennai. The same JLL and RFR team that represented the landlord in the Tommy Hilfiger deal, again represented RFR. JLL's Sam Seiler negotiated the lease on behalf of Quantitative Brokers.
The building at 285 Madison Ave. received media attention in December 2011, when an elevator accident resulted in the tragic fatality of an employee of Y&R (formerly Young & Rubicam), which owned the building.
In 2012, RFR acquired the property from Y&R, which was vacant at the time. RFR invested $65 million in comprehensive renovations. The building now offers a landscaped, rooftop terrace, outdoor lounge, indoor amenity space, ground floor lounge, event space and fitness center. The lobby also rotates contemporary art, currently featuring works by Peter Dayton and Enoc Perez.
The building has now almost reached full occupancy. It has one full tower floor of 14,875 square feet and one 6,761-square-foot pre-built space available.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
