Berkey and Wiener of L&L Holding lease 7,703 s/f to LEGO; Scibilia & Kahn of Cushman & Wakefield act for tenant

LEGO Systems Inc. has leased 7,703 s/f of ground floor retail space at L&L Holding Co.'s 200 Fifth Ave. for its area flagship store. Before being transformed into a trophy office property in 2009, 200 Fifth served as the International Toy Center for over 75 years. LEGO will occupy the ground-floor storefront at the corner of Fifth Ave. and 23rd St. starting in January 2014. Its neighbor at the base of 200 Fifth Ave. is Eataly, the Italian food and wine marketplace. L&L's David Berkey and Andrew Wiener represented the building's ownership in the 10-year retail leasing transaction while Jonathan Scibilia and Andrew Kahn of Cushman & Wakefield represented the tenant. Asking rent for retail space at 200 Fifth Ave. is $500 per s/f. David Levinson, L&L chairman and CEO, said, "Recognizing the unparalleled amount of seven-day foot traffic and the area's thriving demographics, LEGO was keen to pounce on this highly visible location." The new LEGO storefront was formerly occupied by Fidelity Investments. Founded in the 1930s by Ole Kirk Christiansen, LEGO Systems, the North American division of the LEGO Group, is a privately-held, family owned company based in Billund, Denmark and has 9,370 employees worldwide. The company is one of the world's largest manufacturers of creatively educationally play materials for children. LEGO's only other New York City retail outlet is located at Rockefeller Center. Located across from Madison Square Park, 200 Fifth Ave. occupies the entire westerly blockfront between 23rd and 24th Sts. The 800,000 s/f office tower is 100% leased, serving as the world headquarters to Tiffany and Company, Grey Group and IMG Worldwide. Manhattan-based L&L Holding Company, LLC is a privately-owned real estate investment company with a current portfolio exceeding 6 million square feet of office space primarily in Manhattan. For more information on L&L, visit their website www.ll-holding.com. # # # 12/12

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