kate spade new york has signed a new, long-term lease for approximately 86,000 square feet at 2 Park Avenue, where it will relocate its corporate headquarters in Spring 2012.
Over the years, kate spade new york has expanded from handbags to ready to wear, jewelry, shoes, stationery, eyewear, beauty and home. The prominent fashion and lifestyle brand will also expand its footprint from its 45,000 square feet at 48 West 25th Street.
Craig Leavitt, CEO of kate spade new york, says, “After nearly two years of hunting for the perfect home, we believe we have found it at 2 Park Avenue. The last few years have been ones of incredible growth and expansion for us and, although we will be sad to leave our current offices, we simply have outgrown them and need more space. It is a very exciting time for us as a company as we continue to see tremendous growth across the board.”
Newmark’s David Falk, president of the New York Tri-State region, and Jason Greenstein, managing director, represented kate spade new york in the transaction. Tara Stacom, Mitchell Arkin, David E. Green and Whitten Morris of Cushman & Wakefield represented the building owner, a Morgan Stanley Real Estate Investing affiliate.
“Two Park Ave. accommodated the tenant’s needs with an open layout and large floors,” said Tara Stacom, a Cushman & Wakefield vice chairman. “The building is located in a hip neighborhood that has been transformed by an influx of high-end restaurants, health clubs and luxury residential options, and also offers the convenience of being situated near Manhattan’s major transportation hubs.”
Two Park Ave., a New York City landmark with recent building renovations and upgrades, is a Class A office building located within walking distance to Penn Station and Grand Central Terminal.
About kate spade new york
In 1993, kate spade designed the utilitarian bag she’d been craving for years but couldn’t find anywhere and so began a revolution in the accessories market. simple silhouettes with clever details and crisp palettes soon established a visual shorthand for the brand that’s recognizable the world over.
In 2007, kate spade turned the reigns over to design powerhouse Liz Claiborne, Inc. and Deborah Lloyd, formerly of Banana Republic and Burberry, took the helm as creative director and co-president with an aim to broadening the line while honoring kate’s rich history.
Today, you’ll find the brand on the arms of women everywhere - with 38 retail shops, a thriving e-commerce business, 89 locations in asia, a new flagship in brazil and distribution in more than 400 doors worldwide.
About Newmark
Newmark is one of the largest real estate service firms in the world. Headquartered in New York, Newmark and London-based partner Knight Frank together operate from more than 240 offices in established and emerging property markets on five continents. With a combined staff of more than 7,000 and revenues last year exceeding $993 million, this major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide. For further information, visit www.newmarkkf.com.
Newmark is a part of BGC Partners, Inc. (NASDAQ:BGCP), a leading global brokerage company primarily servicing the wholesale financial markets. For further information, visit www.bgcpartners.com.