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NEW YORK CITY - Coty Inc., the world's largest fragrance company, has leased nearly 90,000 square feet at the Empire State Building, announces Steve Eynon, director of leasing at the property. The lease is among the largest in the history of the building.
Coty will move into the entire 14th floor and part of the 15th floor in the first quarter of 2009. The company is currently located at One and Two Park Avenue.
"The addition of Coty to the Empire State Building tenant roster is a welcome endorsement of the ongoing repositioning efforts," says Mr. Eynon. "We're pleased Coty has recognized ESB as a modern corporate setting befitting of top-tier company and industry leaders."
He notes that the Coty transaction closely follows signings for full floors by such companies as Skanska, Taylor, Brennan Beer Gorman and Funaro & Co.
Founded in 1904, Coty is a recognized leader in global beauty, with more than 8,500 employees and offices in more than 30 countries. Its brands, sold to consumers in 91 markets worldwide, include Adidas, Baby Phat, Calvin Klein, Cerruti, Chloe, Chopard, Davidoff, Jennifer Lopez, Jette Joop, Jil Sander, JOOP!, Karl Lagerfeld, Kenneth Cole, L.A.M.B. fragrance by Gwen Stefani, Lancaster, Marc Jacobs, Nautica, Nikos, Phat Farm, Pierre Cardin, Sarah Jessica Parker, Stetson, Vera Wang and Vivienne Westwood, among others.
Richard Bernstein and Ralph Giordano of Colliers ABR represented Coty in the lease negotiations. Mr. Eynon represented the landlord.
Soaring 1,454 feet above Midtown Manhattan, the Empire State Building is the World's Most Famous Office Building. With new investments in infrastructure, public areas and amenities, the Empire State Building has attracted first-rate tenants in a diverse array of industries from around the world.
Improvements - planned and completed - total more than $500 million and include a strategic upgrading of the ground floor retail mix and a comprehensive restoration of the Empire State Building's art deco lobby and ceiling. A new messenger center, modernization of the building's systems, new restrooms, air-conditioned public corridors, and new, improved multi-layered security systems comprise some of the building's contemporary amenities.
All 65 marble elevator cabs have been refurbished and the building's 6,500 windows have been replaced, increasing the Empire State Building’s energy efficiency and earning it a coveted "Energy Star" designation.
The Empire State Building is part of the W&H Properties portfolio.
Broker commissions are paid in full at lease signing.
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