Tommy Hilfiger Grows at RFR Realty’s 285 Madison Avenue
By Lauren Elkies Schram April 20, 2017 11:00 am
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Tommy Hilfiger is expanding its digs at RFR Realty’s 285 Madison Avenue by 8,871 square feet in a prebuilt unit on the 12th floor, Commercial Observer has learned, prior to relocating to the building.
As CO reported this February, the fashion designer signed a roughly 200,000-square-foot lease to relocate to the building, taking nine floors of the 510,000-square-foot property between East 40th and East 41st Streets. With the additional square footage, Tommy Hilfiger will have exactly 205,563 square feet, a source with intimate knowledge of the deal said.
The asking rent in the current deal was $78 per square foot, the source said, and the lease is for 16 years and seven months.
Tommy Hilfiger will be moving from the Starrett-Lehigh Building at 601 West 26th Street on the Far West Side, with the new offices only four blocks away from parent company PVH, which is based at 200 Madison Avenue.
The “expansion at 285 Madison is a reflection of the energetic and exciting work environment we’ve created, with a robust amenity package and the opportunity to grow alongside the building’s tenant base of Fortune 50 companies,” RFR’s AJ Camhi, who represented the landlord in-house in the deal along with JLL’s Alexander Chudnoff, Dan Turkewitz and Diana Biasotti, said in a prepared statement.
JLL’s Mitchell Konsker, Matthew Astrachan and Steven Bauer represented the tenant. A spokesman for JLL didn’t respond with a comment from the brokers.
RFR and GreenOak Real Estate acquired 285 Madison Avenue roughly five years ago for $189.3 million, and spent $65 million on a gut renovation of the then-vacant property.
