Tommy Hilfiger Expands Madison Avenue HQ
By Chava Gourarie May 3, 2019 3:06 pm
reprints
Tommy Hilfiger is expanding its headquarters at 285 Madison Avenue, despite closing its Fifth Avenue flagship store in March.
The fashion retailer took an additional 14,054 square feet on the tenth floor for a total of 220,000 square feet. It will now occupy the first, second and sixth through 12th floors of RFR Realty’s 26-story building.
JLL (JLL)’s Matthew Astrachan, Mitchell Konsker and Steven Bauer represented PVH Corp., Hilfiger’s parent company, while Konsker, Alexander Chudnoff, Dan Turkewitz and Diana Biasotti, all of JLL represented ownership, along with RFR’s AJ Camhi and Ryan Silverman.
In a second deal at the building, Quantitative Brokers signed a lease for 7,070 square feet on the 17th floor. Sam Seiler of JLL represented the tenant in the deal.
The asking rent for Hilfiger’s deal was $78 per square foot, and $82 per square foot for Quantitative Brokers, the New York Post first reported.
Earlier this year, PVH announced it would close its four-level flagship store at the base of 681 Fifth Avenue to focus on “next generation retail,” as Commercial Observer reported at the time. It was the latest in a long list of retailers to close their Fifth Avenue doors as street retail struggles to maintain the relevance it used to.
JLL did not respond to request for comment.
