Nicole Miller Re-Signs Lease in Garment District
Danielle Schlanger March 16, 2015, 1:45 p.m.
Nicole Miller has re-signed its lease at 525 Seventh Avenue, also known as the Fashion Center Building, in the Garment District, Commercial Observer has learned.
The company has once again committed to 28,000 square feet at the property as part of a 10-year lease, according to a source close to the deal. The asking rent was $65 per square foot.
The property at 525 Seventh Avenue and West 38th Street is a Class B office building with 464,000 square feet. It was built in 1925 and has 24 stories. According to landlord Olmstead Properties’ website, the building is 96.3 percent leased.
JLL’s Jim Wenk and Kirill Azovtsev represented Nicole Miller in the transaction. Mr. Wenk declined to comment on the deal.
Steven H. Marvin of Olmstead Properties represented the landlord. Mr. Marvin could not immediately be reached for comment.
Nicole Miller uses its space at 525 Seventh Avenue for its corporate offices and showroom. It also has retail locations in New York at 77 Greene Street in Soho and 1339 Madison Avenue on the Upper East Side.