Clothing retailer American Eagle Outfitters signed what’s billed as New York’s biggest office lease this year as the chain seeks to consolidate footprints of its namesake and other brands.
The Pittsburgh-based company has signed leases totaling 338,085 square feet in a 20-year deal at 63 Madison Ave. between East 27th and 28th streets, landlord George Comfort & Sons, in collaboration with the brokerage firm Savills, said Monday in a statement.
American Eagle’s new footprint includes a direct lease with George Comfort & Sons and its partners Jamestown and Loeb Partners Realty for about 108,000 square feet across the entire seventh and 11th floors of the 15-story tower, George Comfort & Sons said, adding the deal also includes the entire 66,597 square feet of one of the tower’s concourse areas. The clothing retailer also has sublet a space from CBS across the eighth to 10th floors. The sublet space, spanning 162,291 square feet, will eventually be converted into a direct lease.
American Eagle is moving from 393-401 Fifth Ave. between 36th and 37th streets, a spokesperson for George Comfort & Sons told CoStar News. CoStar data shows American Eagle’s footprints at those two addresses span a total of 108,286 square feet.
The new leases came after American Eagle conducted “an exhaustive search” that included tours of over 70 buildings across the city, George Comfort & Sons said, adding American Eagle will “centralize and streamline” under one roof its brands including its namesake label, Aerie, Offline by Aerie, Unsubscribed, and Todd Snyder.
George Comfort & Sons recently completed a major renovation at the 860,000-square-foot tower, just one block north of the popular Madison Square Park, to include a new lobby and “enhanced” retail spaces anchored by Whole Foods Market.
For the Record
American Eagle was represented by Savills’ Mitti Liebersohn, chairman of New York brokerage, and David Goldstein, president of tri-state operations, as well as Anna Erickson. Nate Brzozowski and Will Demuth, both of whom are part of Savills Integrated Consulting Strategies group, were also part of the team.
Ownership was represented by George Comfort & Sons’ President and CEO Peter Duncan, as well as Matt Coudert and Alex Bermingham. Cushman & Wakefield’s Mark Boisi represented CBS in its sublease.