Michael Kors Renews 203K-SF HQ at 11 West 42nd Street
By Abigail Nehring March 5, 2024 4:15 pm
reprints
Michael Kors sewed up a deal to keep its longtime headquarters in Midtown.
The clothing brand renewed its 203,000 square feet to stay put at Tishman Speyer and Silverstein Properties’ 11 West 42nd Street, according to a report by Colliers. It was the largest office deal in Manhattan in February.
The asking rent, length of the lease and other terms of the deal signed last month are unclear. Spokespeople for Tishman Speyer and Silverstein declined to comment. Average asking rent for office space in Midtown was $78.41 per square foot in February, according to the Colliers (CIGI) report.
The fashion brand has been in the 32-story building between Fifth Avenue and Avenue of the Americas since at least 2012, when it expanded from 90,018 square feet to about 120,000 square feet, and apparently kept growing.
It’s unclear who brokered the deal or when Kors expanded to its current 203,000 square feet.
The eponymous brand was founded in 1981 and held its first runway show three years later. Kors brought his company public in 2011, and it has since transitioned to a holding company, Capri Holdings, which also owns fashion brands Versace and Jimmy Choo.
Other tenants in the building across from Bryant Park include New York University, architecture firm Kohn Pedersen Fox and fellow fashion brand Burberry, as Commercial Observer previously reported.
Abigail Nehring can be reached at anehring@commercialobserver.com.
