New York & Co. Carves Out New 185,000 SF Headquarters
Al Barbarino Feb. 25, 2014, 3:43 p.m.
Women’s apparel retailer New York & Co. has inked a deal for its new headquarters space at Vornado Realty Trust’s 330 West 34th Street.
The fashion company signed a new lease for roughly 185,000 square feet across four floors at the 18-floor building, relocating from the space it occupied for more than two decades at nearby 450 West 33rd Street.
The retailer’s four floors measure roughly 45,000 square feet each in the lower portion of the building and it plans to move in by the end of this year, according to the New York Post, which first reported the deal and stated that the retailer worked out an agreement with Brookfield Properties at 450 West 33rd Street to exit that space six months early.
Vornado is completing a full renovation of the building as part of its efforts to upgrade its Penn Plaza portfolio, which Vornado Chief Executive Steven Roth has said is a key to success, as Midtown South booms and Hudson Yards rises. The company is also renovating the Hotel Pennsylvania.
New York & Co., originally known as Lerner Shops, founded in 1918 by Harold Lane and Samuel Lerner, has 500 stores across the nation and is known for seasonal trends at value pricing.
CBRE’s Steve Siegel, Ken Meyerson, Lauren Crowley and Brendan Herlihy; Doane Kelly and David Fleischer of KLG Advisors; and Alan Grossman of ARG Realty Consultants; represented New York & Co.
Vornado was represented in-house by Craig Panzirer and Jared Silverman.