Fashion Brand Moncler Subleasing 24K-SF Storefront From Under Armour at 767 Fifth

Athletic wear company Under Armour has worked out a deal to offload some of its retail space at 767 Fifth Avenue.

Italian fashion brand Moncler Group signed a sublease for 24,000 square feet on two levels at BXP’s 2 million-square-foot, 50-story tower, otherwise known as the General Motors Building, The New York Post first reported.

The length of Moncler’s sublease and asking rent were not made available, but the Post reported in 2022 that Under Armour was asking for $17 million per year for the space.

Spokespeople for Moncler, Under Armour and BXP, formerly known as Boston Properties, did not immediately respond to requests for comment. Cushman & Wakefield (CWK)’s Steven Soutendijk, whom the Post reported as being involved in brokering the deal, and BXP’s Andrew Levin, the listed leasing contact for the property, also did not respond.

The space formerly belonged to FAO Schwarz, which vacated 61,000 square feet at the General Motors Building after a 30-year run in 2015 and moved its location to 30 Rockefeller Plaza.

Under Armour beat out Nike to take over the toy store’s retail space in 2016 but first put it up for sublease in 2021, as Commercial Observer previously reported. As of 2021, the fitness brand leased 53,000 square feet at 767 Fifth Avenue, where it never opened a store of its own.

Moncler, meanwhile, will take over the space to open a new boutique featuring its Stone Island luxury line of clothes, the Post reported.

The fashion brand has several other locations in New York City, including stores at 99 Prince Street in SoHo and at 611 Fifth Avenue, the building that houses the Saks Fifth Avenue flagship.

Isabelle Durso can be reached at idurso@commercialobserver.com.