The fashion label Derek Lam will relocate its corporate headquarters from Soho to NoMad this January after signing a 13,350-square-foot-lease at 105 Madison Avenue.
The company will consolidate as it leaves two floors at 10 Crosby Street for the entire eighth floor of the 20-story, 257,000-square-foot Midtown South property.
Jeffrey Peck, Daniel Horowitz and Christopher Foerch of Studley represented the tenant in the transaction. Paul Davidson and Michael Frantz of Newmark Grubb Knight Frank repped the landlord, A&R Real Estate Inc. Asking rent was in the $50s per square foot.
“Derek Lam’s two floors at 10 Crosby Street were inefficient,” Mr. Peck said in a prepared statement. “The designer needed more space for an increasing headcount as well as an additional showroom for its second clothing line.” Mr. Foerch added that the tenant slashed its occupancy costs by 35 percent thanks to a favorable floor layout and rent.