The Kaufman Organization’s Grant Greenspan and Michael Heaner have been given the exclusive leasing assignment for 550 Seventh Avenue, a Penn Plaza building that is brimming with notable lifestyle brands like Donna Karen, Ralph Lauren, and Lily Pulitzer, The Commercial Observer has learned.
The 251,467 square foot Class B Office building has over 35,000 square feet in availability, according to CoStar data. Messrs. Heaner and Greenspan plan to incorporate a new “interactive” website while also embarking upon extensive renovations to the building’s lobby and infrastructure, the company announced in a press release.
Badgley Mischka and Jill Stuart are also tenants in the 24-story building, which was built in 1925 and designed by commercial architect Ely Jacques Kahn.
The building is owned by Robert Liberman, the CEO of The Adler Group and the grandson of Louis Adler, and his daughter Kristin Fisher.
Average asking rents in the building are at $48-a-square-foot, according to CoStar data.