Burlington Takes 78K SF at 620 Avenue of the Americas

It’s time to bundle up in New York City, and those in need of an inexpensive way to keep warm are in luck. 

Burlington — a national discount retailer — just signed a 12-year, 77,970-square-foot lease on the ground floor of RXR and Hudson Bay Capital’s 620 Avenue of the Americas, the co-landlords announced Monday.

Asking rent was $175 per square foot for corner spaces and $100 per square foot for space in the middle of the block. Burlington was represented by Cliff Simon, his son Jake Simon, and David Rosen, of CNS Real Estate. 

Burlington is taking up the remainder of space in the building at the corner of Sixth Avenue and West 19th Street that was left behind by the now-bankrupt retailer Bed Bath & Beyond, according to the New York Post, which first reported the lease.

The chain will relocate from 695 Avenue of the Americas to its new home — which is just four blocks south of its previous location — within the next 10 months, a source close to the deal told Commercial Observer. 

The building is also home to retail giants T.J. Maxx and Marshalls, which each signed five-year lease renewals in December 2024 for 67,971 square feet and 37,618 square feet, respectively. 

“The existing Burlington store in Chelsea on Sixth and 23rd Street was inefficient from a retailing standpoint,” Cliff Simon told CO. “And the Bed Bath & Beyond [location] was a great opportunity for Burlington. The fact is that it is a more efficient [space], and it’s a great retail building, with great low-price apparel co-tenants.”

RXR was represented in-house by Daniel Birney, as well as by Richard Skulnik, Lindsay Zegans, Ben Sabin and Mary Schwagerl of Ripco Real Estate. Birney and the RIPCO brokers did not respond to requests for comment. 

RXR and Hudson Bay Capital formed a joint partnership in October to recapitalize 620 Avenue of the Americas with a $320 million loan, each getting a 50-50 stake in the property. Over the last year, the building has signed almost 479,000 square feet of new office and retail leases, as well as extensions on some of the building’s long-standing tenants. 

“620 Avenue of the Americas is a testament to RXR’s forward-thinking approach to its assets,” William Elder, executive vice president and managing director of New York City leasing at RXR said in a statement. “Despite earlier challenges with the bankruptcies and subsequent departures of two large tenants, our team has worked tirelessly to revitalize this high-profile building, attracting world-class leaders in technology, finance, fashion and design, and now, once again, reinvigorating the streetscape of this famous shopping district.” 

Other tenants at 620 Avenue of the Americas include retailer Cole Haan, which just signed an 11-year lease extension for 62,262 square feet, and service employees international union Local 32BJ, which expanded by 20,778 square feet on a 20-year lease. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.