Aurora Capital Associates, Allied Partners, and A&H Acquisitions have signed a new office tenant, Milk Makeup, to a ten-year lease at The Prince Building at 568 Broadway.
Jared Epstein, VP, and Principal at Aurora Capital Associates handled the transaction with the founder of Milk Makeup, Mazdack Rassi.
“We couldn’t be more excited to welcome Milk Makeup to The Prince Building,” said Jared Epstein. “This is the quintessential SoHo building and it’s fitting to have a true New York City brand like Milk Makeup join us as our newest tenant. Rassi is an absolute rock star entrepreneur, anything he touches turns to gold. His selection to move Milk Makeup to 568 Broadway solidifies it’s standing as the premier office building in SoHo.”
Milk Makeup is a New York City-based cosmetics brand founded in 2015 by the team behind Milk Studios. The brand quickly became a cult-favorite among beauty enthusiasts for its innovative formulas and clean ingredients and it delivers cruelty-free, paraben-free, vegan formulas developed in-house.
This summer the celebrity-favorite company will move its offices from 450 W 15th Street in Meatpacking to The Prince Building in Soho. The new location offers much more space for the expanding skincare and makeup brand, which will be occupying 17,586 s/f on the southern half of the seventh floor of the building. The space features high ceilings and tremendous light and air from three sides of windows overlooking Broadway, Prince, and Crosby Streets.
“Milk Makeup was founded and nurtured in the Meatpacking District, but after years of growth, it’s time for us to make a home in a new downtown neighborhood,” Rassi said. “This lease gives me huge personal satisfaction since it is the fruit of my 10-year friendship with Jared. He’s been in the trenches with me catalyzing the transformation of the Meatpacking District as a neighborhood and understands Milk’s DNA and origin story. It’s a natural evolution.”
The Prince Building is a 12-story mixed-use building that dates back to 1897. The building is home to Group Nine Media, ZocDoc, Inc., You & Mr. Jones LLC, and Equinox’s SoHo Fitness Center. The asking rents range from $85-125 per rentable square foot in the office portion of the building and $400-750 per square foot in the retail portion of the building.