Lease Beat

Hugo Boss Ditches Starrett-Lehigh Building for FiDi

55 Water Street.

Hugo Boss is moving its North American headquarters from the Starrett-Lehigh Building at 601 West 26th Street to 73,690 square feet at 55 Water Street, Commercial Observer has learned.

The fashion giant will occupy the 53-story building’s entire 48th floor, comprising 68,793 square feet, as well as a partial sublevel space of 4,897 square feet, CBRE announced, through a 15-year deal with $54-per-square-foot asking rents. The company plans to assume the new space in the second quarter of next year. Read More

World Trade Center

Could String of World Trade Center Leases Appease Critics?

LowerManhattanSept2013

Hugo Boss is reportedly in talks with the Port Authority and the Durst Organization to take tens of thousands of square feet of office space at 1 World Trade Center, the latest in a string of rumored deals that could spark a new tone of optimism across the trade center site.

The news comes amid talk that online marketing software company Percolate is also in negotiations for 50,000 square feet at the gleaming tower. In addition, software developer MediaMath is said to be wrapping up a 120,000-square-foot lease at 4 World Trade Center, according to published reports.

A source close to the negotiations told Commercial Observer that the Hugo Boss deal is “not happening anytime soon,” calling the reports of a potential 100,000-square-foot commitment a “huge exaggeration.” Read More

Lease Beat

Brooklyn’s City Point Lands First Office Tenant

A rendering of City Point

Artist management and creative content agency Art Partner has signed a 15-year lease to occupy 10,000 square feet at the City Point in Downtown Brooklyn, becoming the development site’s first office tenant.

The agency, whose services include production, syndication and licensing for print, film, social media and more, plans to relocate from its Hudson Square Read More

Lease Beat

Manon Set to Open in Meatpacking

Courtesy of the Maison Dellos Group

The Maison Dellos Group, owned by Andrei Dellos, is set to open a new four-story restaurant in the Meatpacking District called Manon.

The restaurant will be located at 407 West 14th Street and will feature a mix of French, American, and Pan-Asian cuisines. The restaurant will span 19,740 square feet with the restaurant occupying the first two floors and a part of the third, a wine cellar on the rest of the floor, and then offices on the fourth floor. Read More

Lease Beat

World’s Largest H&M En Route to 589 Fifth Avenue

589 Fifth Avenue.

H&M has designs on 589 Fifth Avenue. In what was a pretty closely-guarded secret, the retailer said last week that it has signed a 57,000-square-foot lease at the building, for what will be its flagship store. It will occupy six floors in the building—the ground through fifth floors, in addition to space below grade level. Read More

The Sit-Down

The British Invasion: CWM NY’s Simon Gibbs on the Next Big Retailer

Simon Gibbs. (Photo Courtesy Peter Lettre)

Simon Gibbs is a partner at CWM New York—the U.S. outpost of London’s CWM, which provides consultancy services for retail clients looking for space. On the other side of the pond, the firm represents, among others, Diesel, Hugo Boss, AllSaints, True Religion, and Kate and Jack Spade. Mr. Gibbs is tasked with translating the CWM model in the States and helping to bring European retailers to our shores. On the heels of a successful lease for U.K. sushi chain Wasabi at 561 Seventh Avenue, he spoke to The Commercial Observer about the challenges of familiarizing foreign retailers with the New York market and why “consultancy” is a better fit for what the firm provides than “brokerage.” Read More