E.l.f Beauty Expanding by 26K SF at 16 West 22nd Street
By Mark Hallum August 27, 2024 12:24 pm
reprints
You’ve heard of “Elf on the Shelf,” but have you heard of elf on 16 West 22nd Street?
Cosmetics company E.l.f. Beauty has expanded its footprint in the Meysar Realty Corporation-owned building with a 10-year lease for 26,000 square feet, according to the landlord.
E.l.f has occupied an entire 13,000-square-foot floor of the building since 2020 and the new deal brings its total to 39,000 square feet, the landlord said.
The landlord declined to provide the asking rent, but office asking rents in Midtown South averaged $84.50 per square foot in the second quarter of 2024, according to a report from CBRE.
GFP Real Estate Senior Managing Director Barbara Yagoda represented the landlord — an LLC tied to the Yagoda family, according to property records — in-house while Jonathan Schindler of Cushman & Wakefield (CWK) negotiated on behalf of the tenant. C&W did not immediately respond to a request for comment.
“E.l.f. has been an exceptional tenant since they joined us in 2020,” Yagoda said in a statement.
Other tenants in the building from 1910 include London-based ad agency M&C Saatchi Group, which signed a 10-year lease for 13,000 square feet in December; Psychology Today owner Sussex Publishers, which signed a 3,285-square-foot lease that same month; and audio post-production company Heard City, which leased 13,000 square feet in February 2022.
The 12-story, 165,000-square-foot neo-Renaissance building is located between Fifth Avenue and Avenue of the Americas.
Mark Hallum can be reached at mhallum@commercialobserver.com.
