Swiss Skincare Brand Takes 8K SF at 41 Madison Avenue
La Prairie, a Switzerland-based skincare brand, will move its New York City offices from Midtown to the Rudin family’s 41 Madison Avenue in the Flatiron District, Commercial Observer has learned.
The company signed a 10-year lease for 8,200 square feet on part of the 40th floor of the 42-story tower between East 25th and East 26th Streets, the landlord said. The asking rent in the deal was $89 per square foot.
La Prairie plans to relocate from 680 Fifth Avenue between West 53rd and West 54th Street to its new digs in the first quarter of 2020, according to the landlord.
Robert Steinman of Rudin Management Company, the operating arm of the Rudin family, represented the landlord in-house. Savills’ John Mambrino, Nick Farmakis and Michael Bertini brokered the deal for La Prairie. A spokeswoman for Savills declined to comment.
“We are excited to welcome this prestigious skincare brand to 41 Madison Avenue,” Michael Rudin, a senior vice president at Rudin Management Company, said in a statement. “From fashion and beauty companies to TAMI [technology, advertising, media and information] tenants and financial services firms, our building is a magnet for a wide variety of industries.”
Other tenants in the 500,000-square-foot property include real estate advisory firm Mission Capital Advisors, financial services company Walter Island Capital and talent firm Gersh Agency.