Luxury Retailer Expands Manhattan Office Presence
The firm signed a lease for 18,000 square feet.
Parisian perfume, skincare and home decor retailer Diptyque has signed a 10-year lease for 18,017 square feet at 16 East 34th St. in Manhattan, owned by Wohio Holding Inc. George Comfort & Sons represented the owner in the deal.
The lease represents a North American headquarters relocation and expansion for the carriage-trade Diptyque, which currently occupies a little more than 8,000 square feet at 240-246 West 35th St.
Dipthyque will occupy the entire 17th floor of the 22-story tower. The property, which includes office and ground-floor retail space, dates from 1925 and last changed hands in 1991 for $24 million, according to Yardi Matrix.
The 376,000-square-foot 16 East 34th St. recently underwent a series of renovations, including the addition of a new roof deck accessible to all building tenants. The outdoor space features a variety of seating options, mural art and views of the New York City skyline. The tower’s lobby has been refashioned with a high-end boutique feel, and new elevator cabs have been installed.
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Notable other office tenants at 16 East 34th St. include workspace provider Corporate Suites and international travel, lifestyle and accessories brand TUMI. Before the Diptyque deal, Yardi Matrix reported occupancy at the building to be 77.1 percent.
George Comfort & Sons’ President & CEO Peter Duncan, Head of NYC Leasing Alexander Bermingham and Associate James Donaldson represented the Wohio in the lease. Diptyque was represented by Cushman & Wakefield Senior Director Laurence Carroll.
The go-go NYC office market
It is a busy time for the New York City office market. Vacancy in the borough came in at 10.2 percent in July, down 420 basis points for the year, according to Yardi Matrix data. That’s the lowest office vacancy rate among the 25 major U.S. metros that the data provider tracks.
Earlier this month, equity firm General Atlantic signed a 150,000-square-foot global headquarters lease at 625 Madison Ave., a 53-story office development in Manhattan’s Plaza District owned by Related Cos. General Atlantic will occupy five floors of the tower.
Real estate advisory giant Savills struck a deal in late August to occupy 20,481 square feet at Rudin’s 560 Lexington Ave. in Manhattan. The company will take up the entirety of the 22-story office tower’s third floor.
Also in late August, sports data and analytics company Genius Sports leased 53,000 square feet at the 2.1 million-square-foot 1290 Sixth Ave. in Midtown Manhattan. The firm will occupy a part of the tower’s sixth floor. Vornado Realty Trust owns the building.
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