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Deals & Dealmakers

Jewellers add sparkle to 555 Fifth

ATCO Properties & Management’s signature office property, 555 Fifth Avenue, is getting yet another dose of “sparkle.”

Beny Sofer Inc., a supplier of loose diamonds and fine jewelry, has signed a seven-year, 5,137-square-foot lease for a portion of the 3rd floor at the 245,000 s/f building, located on the southeast corner of East 46th Street.

The company, which is currently located at 587 5th Avenue, will soon relocate to 555 Fifth Avenue in November 2015.
The new leasing transaction comes on the heels of two other jewelry company leases in the building.

Last year, prominent New York City-based fine jewelry design firm Rina Limor renewed its office space for 2,631 s/f at the property, while Jewels By Star (aka, JB Star) took 10,153 s/f on a portion of the 7th floor in early 2014.
“We’re delighted that another prominent name in the jewelry industry will be moving to 555 Fifth Avenue,” said Kate Goodman, co-president of ATCO, noting that only 6,879 square feet of office space is available for lease at the building.

Jerry Suchman, Managing Director of ATCO Brokerage Services, represented the landlord in-house. The tenant was represented by Moshe Pinsky of Douglas Elliman Commercial. Asking rents were $59 per square foot.

ATCO is also marketing 3,294 s/f of prime space located between Barnes & Noble and Tommy Bahama on East 46th Street.

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