Ralph Lauren Takes Another 350K SF at Starrett-Lehigh Building
By Nicholas Rizzi November 26, 2018 2:33 pm
reprints
Clothing company Ralph Lauren will take another 350,000 square feet in the Starrett-Lehigh Building to consolidate several of its nearby Manhattan offices, the company announced.
The 10-year deal brings Ralph Lauren’s offices at RXR Realty’s 601 West 26th Street between 11th and 12th Avenues to nearly 450,000 square feet, where it moved its North America business operations to last year, Women’s Wear Daily reported.
A spokeswoman for Ralph Lauren would not provide terms of the deal but average asking rents in the building are $39 to $48 per square foot, according to CoStar (CSGP) Group data.
David Goldstein, Matthew Barlow, Mitchell Steir and Gabe Marans of Savills Studley represented Ralph Lauren in the deal while RXR handled it with an in-house team of William Elder and Denise Rodriguez. Spokespeople for Savills Studley and RXR declined to comment.
Ralph Lauren—which has its global headquarters at 650 Madison Avenue—plans to relocate employees from several of its Midtown offices, including 625 Madison Avenue and 550 Seventh Avenue, to the Starrett-Lehigh Building. The move is part of the company’s plan to put its teams closer together into larger office spaces and recently leased a full-building in Nutley, NJ, for it, the spokeswoman said.
Other tenants in the 19-story building include retail licensing company Sequential Brands Group, houseware manufacturers OXO and underwear company Thinx.
