Fashion Conglomerate Moving NYC Offices to 17K SF in 44 Wall Street
The fashion conglomerate signed a 10-year lease to take the entire 12th floor of the 24-story building between Williams and Nassau Streets, according to a spokeswoman for the landlord. Asking rents were in the low to mid-$60s per square foot, a source with knowledge of the deal said.
SMCP plans to move its showroom and offices from 10 Crosby Street between Howard and Grand Streets to 44 Wall Street in the fourth quarter, after EQ finishes building out the new space, the spokeswoman said.
“The iconic brands behind SMCP all possess an entrepreneurial legacy, and this passion has driven the company’s impressive growth throughout the world,” EQ Office’s Scott Silverstein said in a statement. “We are pleased to welcome the company to 44 Wall’s growing tenant roster.”
Silverstein brokered the deal for the landlord in-house along with CBRE (CBRE)’s Zachary Price, Michael Rizzo, Jeffrey Fischer and Caroline Merck. Newmark (NMRK) Knight Frank’s Stephen Gordon and Nathan Kropp handled it for SMCP. A spokeswoman for CBRE did not immediately respond to a request for comment.
“SMCP sought world-class office space in a dynamic neighborhood and found exactly that at 44 Wall Street,” Gordon said in a statement. “Their lease is representative of Lower Manhattan’s shift to a more diverse tenancy that includes nearly 9 million square feet of transactions with fashion and creative tenants.”
Other tenants in the 350,000-square-foot 44 Wall Street include ad agency Giant Spoon, tech company GameChanger Media and smartphone maker OnePlus.