Fashion legend's 7th Ave. renewal.
After 20 years of signing three-year renewals at 550 7th Avenue, celebrated fashion designer Bill Blass, Ltd. has signed its first long-term renewal for 10 years.
Kaufman/Adler Realty, a division of The Kaufman Organization, negotiated the deal for 11,695 sq. ft. of full-floor showroom space*
The Kaufman/Adler team of Grant Greenspan, Michael Heaner, Robert Savitt and Jack Wynne represented the tenant in the transaction. Alan Grossman of the Georgetown Group, Inc. represented the landlord. The asking price was $36 per square foot.
The 24-story, 250,000-square-foot couture building, built in 1925, also houses several marquee names in the fashion industry, including Oscar De La Renta Oscar de la Renta (born July 22, 1932) is a leading fashion designer. Early years
De la Renta (born Oscar Aristides Renta Fiallo) was born in the Dominican Republic to a Dominican mother and a Puerto Rican father. Ltd., Donna Karan Donna Karan is the fashion designer and the creator of the DKNY (Donna Karan New York) clothing label. She was born Donna Ivy Faske on October 9, 1948 in Forest Hills, New York. , Vivienne Tam Vivienne Tam (譚燕玉, pinyin: Tán Yànyù) is a fashion designer based in New York. She was born in China in 1957 and raised in Hong Kong. She attended Hong Kong Polytechnic University. , Jill Stuart, Polo Ralph Lauren Polo Ralph Lauren (NYSE: RL) is American fashion designer Ralph Lauren's luxury lifestyle company. Polo Ralph Lauren specializes in high-end casual/semi-formal wear for men and women, as well as accessories, fragrance, and housewares. , and Lilly Pulitzer Lilly Pulitzer (b. 1931, Roslyn, New York) is a socialite and prominent fashion designer. History
Lilly Pulitzer was christened Lillian Lee McKim to a socialite family in Roslyn, New York in 1931; Lilly Lee was her nickname among her friends. .
"Because of the building's workletter, the company decided to sign its first long-term lease after two decades of occupancy," said Greenspan. "We are pleased to have negotiated Bill Blass, Ltd.'s first long-term lease in two decades."
"With the market beginning an upturn, we're seeing more tenants locking in longer-term rents," said Heaner. "We're glad we were able to help Bill Blass Ltd. take advantage of this situation."