PVH Corp. has completed two renewal transactions at separate commercial office buildings in Manhattan for its Calvin Klein business.
The global apparel company inked a renewal and expansion for nearly 224,000 s/f at 501 Seventh Avenue and also completed a renewal for approximately 195,000 s/f at 205 West 39th Street.
PVH Corp. was represented in both transactions by Matthew Astrachan and Mitchell Konsker, vice chairmen, with Jones Lang LaSalle, and Steven Bauer, executive director, with Cushman & Wakefield Inc.
The owner of 501 Seventh Avenue, Empire State Realty Trust, was represented in-house by Thomas Durels, executive vice president and chief of property operations and leasing, and Fred Posniak, senior vice president of leasing and marketing, along with Harry Blair, senior director, Sean Kearns, director, and Kelli Mekles, senior associate, with Cushman & Wakefield.
The owner of 205 West 39th Street, 205 West 39th Street Co., was represented by Howard Fiddle, vice chairman, and Evan Haskell, vice president, with CBRE Inc.
“After our recent Warnaco acquisition, both JLL and C&W did a tremendous job for PVH, securing both an extension of the existing leases and needed additional space, which will provide continuity and flexibility for the Calvin Klein business,” said Michael Shaffer, executive vice president, COO and CFO, with PVH.
“We evaluated a number of options across Manhattan to best suit the needs for PVH and Calvin Klein,” said Astrachan. “We advised PVH that its existing offices at each building remained the most appropriate locations. Calvin Klein continues to be heavily invested in 205 West 39th Street, as it maintains unique space on the ground floor where Calvin Klein holds high profile events and presentations. The offices at 501 Seventh Avenue are just one block away from the 39th Street building and the building remains ideal for PVH in terms of accommodating its existing requirements and anticipated growth of Calvin Klein.”
“The Calvin Klein, Speedo and Core Intimates businesses PVH acquired from Warnaco have been tenants at 501 Seventh Avenue for almost 10 years, a fact that adds immeasurably to our pleasure in accommodating the firm’s continuing growth,” said Durels. “In fact, they joined our tenant roster just as the building was being transformed to a modern pre-war trophy office building. We have an excellent relationship with PVH and are very gratified to have them renew and expand their commitment to 501 Seventh Avenue.”
“205 West 39th Street has been the headquarters of Calvin Klein Inc. since the late 1970s,” said Daniel Mintz, managing general partner, of 205 West 39th Street Co. “We are pleased that PVH has extended its long-term commitment to our building and to the Garment District.”
Legal representation for PVH at 501 Seventh Avenue was provided by Mitchell Stern, partner, and Keith Pollack, associate, with Olshan Grundman Frome Rosenzweig & Wolosky LLP. Legal representation for PVH at 205 West 39th Street was provided by Steven Gursky, partner, and Pollack with Olshan Grundman. Lawrence Simon, partner, with Morrison Cohen LLP provided legal representation for Empire State Realty Trust at 501 Seventh Avenue; and Neil Botwinoff, partner, with Tannenbaum Helpern Syracuse & Hirschtritt LLP provided legal representation for 205 W. 39th St. Co.