Fragrance Giant DSM-Firmenich Moving to 45K SF at 641 Avenue of the Americas
By Nicholas Rizzi October 17, 2024 1:54 pm
reprints
Why did the fragrance company relocate its office? Because it makes scents.
Swiss-Dutch fragrance and ingredient giant DSM-Firmenich will move its New York City offices to 635-641 Avenue of the Americas, Commercial Observer has learned.
DSM-Firmenich signed a lease for 44,981 square feet at Spear Street Capital’s eight-story Chelsea building, according to a source with knowledge of the deal.
The source could not provide the length of the lease, but said asking rent was $118 per square foot.
DSM-Firmenich will waft 2.2. miles south from its current New York City offices at 625 Madison Avenue to the building between West 19th and West 20th streets, the source said.
The company was formed in 2022 when Dutch chemical maker DSM took over the Swiss ingredient and fragrance company Firmenich, Reuters reported. As part of the deal, DSM sold off its industrial materials division to focus instead on food ingredients and health products, according to Reuters.
Aside from making ingredients for snacks like gummy bears, DSM-Firmenich also sponsors a team that competes in the Tour de France bicycle race.
CBRE (CBRE)’s Paul Amrich, Neil King, Zac Price, Meghan Allen and Shay Kenney represented the landlord while JLL (JLL)’s James Quinn and Gary Youm brokered the deal for the tenant.
Spokespeople for CBRE and JLL did not immediately respond to requests for comment.
Spear Street bought the 267,000-square-foot Avenue of the Americas building from SL Green Realty for $325 million in 2021, and completed a renovation of the property in 2023 to update the lobby and amenity spaces on the eighth and ninth floors. Other office tenants include enterprise software company Infor and online auction site eBay.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
