Fashion Designer PatBO and Retail Contractor Michilli Ink Fifth Avenue Deals
Luxury retail contractor Michilli and fashion designer PatBO each inked 7,000-square-foot deals to strut their stuff at 126 Fifth Avenue, Commercial Observer has learned.
Asking rent was $65 per square foot in the two 10-year leases, according to Compass’ Noah Jay, who represented both tenants with Michael Yadgard.
Michilli — known for designing retail outposts for Swarovski and Gucci, and building Google’s first-ever store in Chelsea — gave its new Flatiron District offices on the entire ninth floor a facelift before relocating from 160 Varick Street last week, said Ellman Realty Advisors’ Marco Ellman, who represented landlord 126-8 Fifth Avenue with Hiro Tanaka. Michilli took the space from investment firm Brooklyn NY Holdings, which moved to the Grace Building at 1114 Avenue of the Americas this past spring, Ellman said.
PatBO will design its seventh-floor showroom when it moves to the building between West 17th and West 18th streets before the end of the year, Jay said. PatBO has another 5,000-square-foot outpost at 65 Green Street and will replace clothing designer Mara Hoffman at 126 Fifth.
Ellman said both companies “were great additions to the building” and will join an “eclectic mix of tenants” that includes Ellman Realty Advisors, video startup VidMob and ground-floor retailer Athleta.
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