Skin Care Company Relocating From Starrett-Lehigh to Nearly 15K SF at 285 Madison Avenue
By Lauren Elkies Schram November 1, 2016 6:00 pm
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StriVectin Operating Company, a skin care company that provides clinical anti-aging skin care solutions, is moving to RFR Realty’s 285 Madison Avenue between East 40th and East 41st Streets, Commercial Observer has learned.
About a week ago, StriVectin signed a lease for 14,732 square feet at 285 Madison Avenue and plans to move in next spring, a source with knowledge of the deal said. The company will leave behind its digs at the Starrett-Lehigh Building at 601 West 26th Street between 11th and 12th Avenues. StriVectin picked 285 Madison Avenue because of the amenities and the location, the source said.
The lease is for 10 years, according to RFR. The source said the asking rent was $67 per square foot.
JLL’s Alexander Chudnoff, Mitchell Konsker, Diana Biasotti and Dan Turkewitz represented the landlord along with RFR’s AJ Camhi. Savills Studley’s Joseph Genovesi and John Harte brokered the deal for the tenant. Spokesmen for JLL and Savills Studley said the brokers did not respond to a request for comment.
Camhi said in a prepared statement: “The leasing velocity we’ve seen at 285 Madison since RFR completely reimagined this well-located office tower speaks volumes about what a sought-after location the building has become. As a global beauty brand, StriVectin’s lease further bolsters that narrative, and we’re happy to welcome them to our building.”
RFR and GreenOak Real Estate bought the 90-year-old 529,526-square-foot 285 Madison Avenue in 2012 for $189.3 million from advertising agency Young & Rubicam.
Ziff Capital Partners and Greylock Capital Management are tenants in the building. Janklow & Nesbit, a literary agency, signed an 11-year deal to relocate to 14,875 square feet at 285 Madison Avenue, the landlord announced in a press release in September.
