Perfume Company Adds a Floor at 555 Madison Avenue
Brady Dale Jan. 21, 2015, 6:36 p.m.
Mane USA, a French perfume creation company founded in 1871, renewed and expanded its lease at The Coates Building at 555 Madison Avenue between East 55th and East 56th Streets, according to Mane’s broker Handler Real Estate Organization.
It is renewing its lease on the 28th and 30th floors, and expanding to the 31st floor, for a total of 17,417 square feet, a release from Handler said.
Landlord Rodney Corporation was represented by Robert A.B. Baraf, Mark Mandell and Ethan Silverstein of Cushman & Wakefield.
Mr. Baraf said that Mane signed the new lease on Dec. 23 and has been a tenant in the building since 2006. “We are very happy to have had Mane expand and extend their occupancy in 555 Madison Avenue,” he told Commercial Observer.
Mane signed an 11-year lease. Asking rents in the tower floors were $85 per square foot, Mr. Baraf said.
Mane plans to expand onto the 31st floor in June, pending completed construction. The firm’s executive offices will be on the two higher floors, according to the release.
“A multigenerational family business, Mane is one of the most influential perfume creation companies in the world and is in major growth mode,” said Handler’s Peter J. Newman in prepared remarks, who along with Darell Handler, represented Mane.
The Midtown East building is comprised of 450,531 square feet, according to the building’s website. Piquet Realty of Florida signed a lease there in April, according to The Real Deal.