Caudalie, a French skincare company, has chosen the heart of Manhattan’s Midtown South office district to establish its new U.S. headquarters. The company signed a 14,000-square-foot lease at 381 Park Ave. S., a 17-story office building owned by ATCO Properties & Management.
Caudalie will be relocating its entire U.S. headquarters from 70 W. 36th St. to a full floor the new property. The 10-year, four-month lease comes with an asking rent of $69 per square foot.
Jonathan Moss of M&M Retail Luxury Consulting Inc. represented the tenant, while Robert Tunis, Kyle Berlinsky and Joseph Mangiacotti of Colliers International NY LLC represented building ownership.
Caudalie’s move is a further boost to the building’s recent leasing momentum. In November, ATCO announced four leasing transactions totaling 8,444 square feet with Sepp Leaf Products, Inc.; Valerio Architects; PreZenDental PLLC; and Breakaway Communications, Inc.
Constructed in 1910, the building offers abundant natural light and flexible floorplates. With 228,000 square feet of office space, the boutique property is just steps from Madison Square Park and several subway lines, including the N, Q, R and 6 trains.
Other prominent office tenants in the building include FGS Design LLC, Two Sticks Inc., EVOS, ListenFirst Media and the Stephen B. Jacobs Group. Additionally, famed bakery and restaurant Sarabeth’s Kitchen is located at the base of 381 Park Ave. S.
Midtown Sees Leasing Spree in Final Month of ’23
Despite facing challenges, the office market showed signs of resilience in the final month of 2023 with the year’s largest office lease signed in December as Law firm Paul Weiss Rifkind Wharton & Garrison secured a 20-year lease for 765,000 square feet in Midtown West.
In the same month, two prominent tenants — MetLife and PJT Partners — extended their leases in Manhattan. Insurance giant MetLife opted to stay put at its namesake building at 200 Park Ave., securing an 11-year renewal. Meanwhile, leading investment bank PJT Partners expanded its presence at 280 Park Ave. in the Plaza District for an additional 15 years.
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