PVH Corp. has signed a long-term renewal and expansion deal for its Warnaco Group unit at the Empire State Realty Trust’s 501 Seventh Avenue. The renewal adds more than 37,000 square feet to the lease, upping Warnaco’s total occupancy to 223,616 square feet.
PVH, which owns brands including Tommy Hilfiger, Calvin Klein and IZOD, acquired Warnaco, which owns the licenses for Calvin Klein jeans and underwear, in February of this year. The $2.9 billion deal brought all Calvin Klein-branded apparel under a single entity and followed the company’s previous acquisition of Tommy Hilfiger for $3 billion in 2010.
The New York State Attorney General’s office is reportedly reviewing the Leona M. Helmsley estate’s liquidation of its stake in the properties launched as part of the Empire State Realty Trust REIT last month, which includes the Empire State Building.
The process will begin once the Helmsley estate files a final accounting of the sale Read More
With Midtown South pricing out tenants in search of smaller blocks of space, the Empire State Realty Trust has designed prebuilt office space on the 16th floor of 501 Seventh Avenue to harness the demand spilling over to other parts of the market.
Considering two types of prebuilds—office and creative—ESRT opted for creative, targeting media, tech and advertising firms. “We don’t cater to the garment industry anymore,” said Fred Posniak, senior vice president, frankly. Built for immediate occupancy, the four prebuilt spaces at 501 Seventh Avenue range in size from 2,641 square feet to 5,810 square feet.
Mr. Posniak spoke to The Commercial Observer last week about benefits and unique features offered on the 16th floor.
NuvoTV, the first English-language cable network geared toward bi-cultural Latinos in the United States, is moving its New York office to the fifth floor of 501 Seventh Avenue.
The company has inked a four-year lease on a 5,449-square-foot, pre-built suite with landlord W&H Properties. Asking rent was $48 per square foot.
Cushman & Wakefield duo Harry Blair and Sean Kearns have been named the exclusive leasing and managing agents for 501 Seventh Avenue, the W&H Properties-owned 18-story office building in the thick of the Midtown South market, it was announced in a press release today.
501 Seventh Avenue
The cautious government types at the New York State Office of General Services have decided to stay put at 501 Seventh Avenue. The agency signed a 10-year lease for 40,000 square feet, which it has been subleasing from the New York Power Authority.
“It’s particularly significant to Read More