Swarovski Expands at SL Green’s 10 East 53rd Street
By Terence Cullen March 2, 2016 1:15 pm
reprints
Crystal company Swarovski has increased its foothold at SL Green (SLG) Realty Corp.’s 10 East 53rd Street just a year and a half after moving into the building, Commercial Observer has learned.
Swarovski inked a deal for 8,454 square feet, spanning the entire 23rd floor of the 390,000-square-foot structure. The company now has more than 26,000 square feet across three floors of the 37-story office building between Madison and Fifth Avenues, according to a press release from the landlord.
The Austria-based jeweler is taking the space for 10 years, according to an SL Green spokeswoman. Asking rent in the deal was $90 per square foot.
“We were delighted to work with Swarovski to accommodate their expansion requirement,” Steven Durels, SL Green’s head of leasing, said in prepared remarks. “This was made possible because of our ability to provide temporary swing space elsewhere within our portfolio for use by Swarovski during their construction period.”
Swarovski will use the 23rd floor as office space for its retail group, the spokeswoman said. The company moved into the building in late 2014, and currently leases the 26th and 27th floors for showroom space.
Mark Mandell of Cushman & Wakefield (CWK) represented the tenant in the most recent deal, while Paul Glickman, Cynthia Wasserberger, Alexander Chudnoff, Ben Bass and Diana Biasotti of JLL (JLL) represented the landlord. A C&W spokesman did not immediately return a request for comment.
