New York, NY CBRE Group, Inc. has advised Coach in a 693,938 s/f lease of its headquarters at 10 Hudson Yards as part of Coach’s sale-leaseback.
CBRE’s Lauren Crowley Corrinet, Mary Ann Tighe and Gregory Tosko represented Coach, who entered into a 20-year lease for the sixth through the 23rd floors.
“We are happy to have played a part in helping this iconic brand monetize their interest while creating an important leasehold where Hudson Yards meets the Highline.” said Tosko, CBRE vice chairman.
Coach was the first company to commit to the Hudson Yards project and is the largest tenant in 10 Hudson Yards. The company was founded in New York City 75 years ago and is the leading New York design house of modern luxury accessories and lifestyle brands.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,