TheRealReal Moving Offices Down the Block to 53 West 36th Street

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Luxury consignment company TheRealReal is relocating its offices to 27,760 square feet at 53 West 36th Street, Commercial Observer has learned, down the block from its current quarters.

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The company took space on the eighth and 10th through 12th floors in the 12-story building between Fifth Avenue and Avenue of the Americas, per a source with intimate knowledge of the deal.

The lease is for 10 years and the asking rent was $59 per square foot, the source said.

Newmark Knight Frank’s Shannon Aja and Barbara Craig represented the tenant in the deal and LSL AdvisorsDaniel Lolai represented the landlord, an investor group led by Fatollah “Effy” Hematian. A spokesman for NKF said Aja and Craig declined to comment and Lolai didn’t immediately respond to a request for comment.

CO reported when the group of investors purchased the Garment District office building in 2016 from Hidrock Realty for $54 million.

TheRealReal will move in April from its digs at 29 West 36th Street.