Full-busted lingerie and swimwear company Panache Lingerie is moving its offices to 286 Madison Avenue between East 40th and East 41st Streets, Commercial Observer has learned.
Panache Lingerie signed a lease for 3,800 square feet on the entire 23rd, or penthouse, floor of the building in a 10-year deal, according to Bert Rosenblatt, a principal at Vicus Partners, who negotiated the deal on behalf of Panache. The asking rent on the 23rd floor in the 125,976-square-foot building was $60 per square foot. It is a walkup penthouse from the 22nd floor.
“Their lease was up and they needed more space,” Mr. Rosenblatt said.
Panache, which sells lingerie and swimwear for the D-plus woman, has a retail store at 40 East 34th Street.
The company will be moving from 183 Madison Avenue at the southeast corner of Madison Avenue and East 34th Street later this month, Mr. Rosenblatt said.
Cushman & Wakefield‘s Joshua Goldman and David Rosenbloom represented the landlord, APF Properties, in the deal. C&W declined to comment.