Sol de Janeiro Relocating Manhattan Offices to One Grand Central Place
By Mark Hallum February 22, 2024 10:37 am
reprints
Skin care brand Sol de Janeiro is rejuvenating its New York City headquarters in a relocation to 60 East 42nd Street.
The subsidiary of L’Occitane signed an 11-year, 57,203-square-foot lease at Empire State Realty Trust" class="company-link">Empire State Realty Trust’s One Grand Central Place, according to ESRT. Sol de Janeiro will move five blocks south from its current offices at The Feil Organization’s 551 Fifth Avenue.
One Grand Central Place rises 55 stories near the southwest corner of Grand Central Terminal, where Vanderbilt Avenue meets East 42nd Street. ESRT did not disclose asking rent in the building, but offices in Midtown had an average of $82.89 per square foot in the fourth quarter of 2023, according to CBRE.
“Our partnership together will deliver them a fantastic, custom installation where Sol will enjoy top-tier amenities and convenient access to transportation,” Thomas Durels, executive vice president of real estate at ESRT, said in a statement.
Sol de Janeiro was represented by Brent Ozarowski of Newmark (NMRK) in the deal. ESRT’s Jordan Berger as well as Scott Klau, William Cohen, Erik Harris and Neil Rubin of Newmark negotiated on behalf of the landlord.
Newmark did not immediately respond to a request for comment.
ESRT also recently worked with Sol de Janiero’s parent L’Occitane in a 9,497-square-foot expansion on its 20,962-square-foot space at 111 West 33rd Street, according to the landlord. It wasn’t clear when exactly the deal took place.
Sol de Janeiro will join wealth management firm CliftonLarsonAllen, which expanded to 12,422 square feet in July 2022, and fintech platform iCapital Network, which expanded to 64,537 square feet in October 2021, in One Grand Central Place.
Mark Hallum can be reached at mhallum@commercialobserver.com.
