Manhattan, NY According to John Brod, a partner at ABS Partners Real Estate, men’s fashion and accessories brand, Bugatchi Group, Inc., has signed a 4,751 s/f lease for the entire ninth floor at 145 East 57th St., a 13-story, 64,000 s/f “curated” office property located between Lexington and Third Aves. Bugatchi will be utilizing the space to house its family and business offices.
“Over the past several months, there has been a tremendous amount of leasing activity at the property, which has resulted in five of the seven available floors being leased, leaving only two opportunities remaining,” said ABS partners executive managing director Robert Finkelstein, who, along with Brod, is overseeing the leasing for 145 East 57th St. “Both of these floors will be delivered in turnkey condition – either furnished or unfurnished.”
Stephane Abitbol, corporate counsel at Bugatchi Group, Inc. represented the tenant in the lease negotiations.
ABS in a joint venture with Benenson Investment Co. purchased the property in the fall of 2016. Leasing began at the building one year ago, following the completion of a major capital improvement program for both the base building infrastructure and the individual tenant spaces.
These upgrades included a new backup generator; a beautifully appointed marble lobby; and for an additional charge, concierge services, furniture, IT amenities and pantry stocking.
Brod said, “The property has experienced robust leasing activity due to the exceptional finishes as well as the build-to-suit options that have met the discerning needs of a range of prominent companies. We are thrilled that the completion of our extensive capital improvements program has culminated in such tremendous tenant interest.”
From its very first menswear collection in 1981, Bugatchi has paid great attention to the quality of their fabrics and the craftsmanship of their products, creating timeless menswear that embraces innovation but values time-tested tradition.
Abitbol said, “The space’s column-free design will do well in providing Bugatchi’s new marketing and digital executives the opportunity to tailor the space to their unique needs. In addition, 145 East 57th St. is in close proximity to the offices and stores of many of the finest luxury fashion brands in the world. Complemented by its new Fifth Ave. showroom, Bugatchi can now count itself among many of the world’s finest luxury brands that also maintain a strong presence in this prestigious area.”