SL Green Realty Corp. announced that Swarovski North America Ltd., the world-renowned Austrian designer of high quality crystal, has signed an 11+ year lease covering 17, 850 square feet at 10 East 53rd Street, the 354, 046-square-foot trophy tower currently undergoing a comprehensive, $64 million redevelopment.
Swarovski’s new office premises will be situated on the entire 26th and 27th floors of the 37-story building, offering sweeping Central Park views.
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“Market reaction to the building’s redevelopment has been overwhelming and we are thrilled to welcome such an internationally renowned, luxury brand to our building, ” said Steven Durels, Executive Vice President, Director of Leasing and Real Property for SL Green who added, “This lease follows the recently announced new lease with Equinox for a new 32, 000-square-foot state-of-the-art fitness center.”
The building redevelopment work is nearing completion and includes a spectacular new lobby and public space, new plazas, new windows, re-colored façade, new bathrooms and extensive infrastructure upgrades.
SL Green Realty Corp. also announced that Diesel, the upscale international lifestyle retailer that produces an extensive collection of jeans, clothing and accessories, has signed a 10-year lease for a new flagship store at 625 Madison Ave. The transaction for the coveted ground floor corner space at 59th Street brings the building’s retail occupancy to 100%.
The new store, with an anticipated opening this summer, will be the second at an SL Green-owned building. The Italy-based retailer’s SoHo location at 135 Spring Street was acquired by SL Green in 2013.
625 Madison Ave is a Class A building in New York City’s Plaza District, home to many of the world’s biggest names in traditional luxury retail along with today’s most dynamic, current brands. Diesel joins Fratelli Rosetti, Neiman Marcus, Polo/Ralph Lauren, Stuart Weitzman and Philipp Plein, among others, at its newest location.
Brett Herschenfeld, managing director of SL Green Retail, commented, “This corner space in one of Manhattan’s premier retail corridors is the perfect location for Diesel to continue its growth in New York City. The transaction demonstrates our ability to use our portfolio’s scale to expand existing relationships with valued tenants. It also underscores the overall success of our retail investment program, which has complemented our core office business with strong returns.”
