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7/6/2007
Perry Ellis Expands, Renews Midtown Lease



By Natalie Dolce NEW YORK CITY-Perry Ellis International Inc., a fashion menswear company, will now occupy a total of 48,858 sf at 42 W. 39th St. The 10-year, 10,092-sf renewal was brokered by locally based Adams & Co. Real Estate LLC. Jeffrey Schwartz and David Levy of Adams & Co. represented both the tenant and the landlord, 42 W. 39th St. LLC. Although details were not disclosed, the asking price for the space was $34 per sf, according to a release by the broker. “The actual rent is $31 per sf,” Levy, principal of Adams & Co., tells GlobeSt.com. Built in 1927, the 18-story property is located near Bryant Park and has concierge services as well as 24-hour access. Notable clients in the 138,788-sf building include Shamash & Sons, Castlewood Apparel and Bluefly.com. Retail tenants are Cordette Drugs, Mai, AEL Repnographics and the Tall Girl Ship. “42 W. 29th St. is a fantastic menswear building and the perfect location for the company’s New York headquarters,” notes Jeffrey Schwartz, senior managing director of Adams & Co. The main reason for the expansion and renewal, Levy explains, was simply that “Perry Ellis just needed more space for their existing business.”
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