Full-service commercial real estate firm ABS Partners Real Estate LLC., secured a 35,698-square-foot office lease for Elizabeth Arden’s New York City headquarters.
The company opted to renew its lease early for the sixth and seventh floors of 200 Park Avenue South, which is located on the corner of Park Avenue South and 17th Street.
Elizabeth Arden currently occupies the second, sixth and seventh floors of the building. After making substantial investments to refresh and rebrand its office space, the company will reposition itself on the sixth and seventh floors of 200 Park Avenue South, where it is committing to remain long term.
Alan Friedman and Charles Conwell of ABS Partners Real Estate represented the landlord, 200 Park South Associates LLC., in the transaction, while Joseph Cabrera, David Glassman and Michael Gordon of Colliers International represented the tenant. Asking rent at the building ranges from $75-$85 per square foot.
“We’re grateful that Elizabeth Arden recognized the value of the space it already occupied at 200 Park Avenue South, which is close to one of the city’s top transit hubs. The company wanted to solidify a long-term commitment to this neighborhood and to the building, where it also operates a 10,000-square-foot Red Door Spa on the ground floor,” said Friedman, a senior managing director at ABS. “The availability of Class-
A office space in Union Square is very limited. 200 Park Avenue South offers unmatched views of the park, great natural light and 17,800-square-foot floor plates with 12-foot ceilings, affording tenants a modern office space within a landmarked building. Additionally, because the property is owner occupied, the owners are in tune with the needs of each tenant.”
Constructed in 1908, 200 Park Avenue South is a 16-story Class-A office building in Manhattan’s Union Square neighborhood. The LEED Gold Certified building offers 304,807 square feet of office space and was designated a New York City landmark in 1988. In addition to Elizabeth Arden and the Red Door Spa at Union Square, other tenants at the building include, Sephora, ABS Partners Real Estate and Altman Greenfield & Selvaggi. 200 Park Avenue South sits at the northeast corner of Union Square, close to a vast amount of dining, shopping and entertainment options available in Midtown South. The 4, 5, 6, N, Q, R and L subway lines are across the street.
