Jimmy Choo Takes Penthouse Space at 681 Fifth Avenue for New Showroom
Daniel Edward Rosen June 14, 2012, 8:30 a.m.
Shoe designer Jimmy Choo has inked a lease for temporary penthouse space at 681 Fifth Avenue, The Commercial Observer has learned.
Jimmy Choo will be joining Belstaff, a luxury retailer that moved into 681 Fifth Avenue last year, as a fellow fashion tenant.
A Cushman & Wakefield team of Bruce Mosler, Cynthia Foster, Mark Mandell, Ethan Silverstein and Ashlea Aaron represented Metropole, the owner of 681 Fifth Avenue. Asking rent for the penthouse space is $115-a-square-foot.
In a statement, Jimmy Choo USA CEO Brian Henke said the penthouse showroom fit its plans to unveil its latest line of shoes in a unique space:
“Metropole created a hotel-like experience for our clients; as they enter the jewel box lobby at 681 Fifth Avenue they are greeted by uniformed doormen and a concierge. Once they enter our showroom Jimmy Choo’s products are displayed against the spectacular backdrop of Central Park and views of the gardens and flags at Rockefeller Center. It is truly a unique, inspiring space with soaring ceilings and filled with natural light,” said Mr. Henke in a statement.
After Belstaff took three floors for a total of 17,505 square feet last Fall, Peregrine Financial Group, Altum Capital Management and Apex Bulk Carriers signed leases in the building, leaving the duplex penthouse space as the lone availability at 681 Fifth Avenue.
“The space we have been marketing is pretty dramatic,” Mr. Mandell told The Commercial Observer.
While the space has been marketed to a broad spectrum of potential users –including fashion and showroom tenants and hedge funds– the penthouse’s Central Park views and outdoor space make it a potential new office for any user.
“We’ve had a lot of media-tech tenants that seem to be gravitating to the fact that the ceiling heights are great,” he said. “It’s a ‘wow’ space.”
The penthouse features an atrium that is 30-feet high and 15-feet-wide windows that offer views of Fifth Avenue and Central Park.
As ownership searched for a permanent tenant, the Cushman & Wakefield team took a page out of colleague Alan Schmerzler’s book with his handling of the retail space at 1095 Avenue of the Americas. In March, to help market the 36,000 retail space in the Bryant Park office building, Mr. Schmerzler struck a deal with the National Football League for a pop-up store.
Metropole spent $20 million renovating the 95,074 square foot building, using architectural firm McKim, Meade & White to spruce up the former home of the Metropolitan Museum of Art. Renovations were completed in 2010.
To help push the building’s “boutique office” feel, ownership offers concierge service, doormen, and “white-glove service.”