Exclusive: Gucci Claiming 195 Broadway Office Space


195 Broadway.
195 Broadway.

The mystery of where Gucci is taking office space Downtown has been solved.

SEE ALSO: Developers Talk the Remaking of Downtown, One Brick and Restaurant at a Time

While it was widely known that the fashion retailer was searching for office space in the Financial District, Commercial Observer can exclusively reveal the location of its new digs: 195 Broadway.

Gucci is negotiating for 80,000 square feet over two stories at 195 Broadway at Fulton Street, where the asking rent is $55 per square foot, according to a source with intimate knowledge of the deal.

In February, Nobu, owned by Robert DeNiro, Drew Nierporent and chef Nobu Matsuhisa, signed a 15-year lease for the 14,384-square-foot space on the ground floor and lower level at 195 Broadway.

Cushman & Wakefield‘s Bruce Mosler, Mark Mandell and Ethan Silverstein are representing Gucci in the deal, while David Berkey and Andrew Wiener are representing the landlord, L&L Holding Company, in-house. Mr. Mosler didn’t respond to a request for comment and L&L declined to comment.

L&L Chairman and Chief David Levinson and partners bought the Financial District property for $206 million in 2005. In November 2013, L&L and Beacon Capital Partners recapitalized the building by selling the majority interest to JP Morgan for $498.5 million. L&L Holdings, owner of what was AT&T‘s original world headquarters, spent eight years investing $50 million in efforts to convert the lobby to retail space, Mr. Berkey previously told Commercial Observer.

Gucci will be relocating from 685 Fifth Avenue.