News:
Brokerage
Posted: September 10, 2024
e.l.f. Beauty expands at 16 West 22nd St., signs new long-term lease for additional 26,000 s/f
Manhattan, NY According to GFP Real Estate, LLC, e.l.f. Beauty (NYSE: ELF), a purpose-led, results-driven beauty company that makes beauty accessible, has signed a new ten-year lease for 26,000 s/f of space at 16 West 22nd St. in the Flatiron District, tripling its presence within the building.
The new lease marks a significant expansion for e.l.f., which has occupied 13,000 s/f at the building—a full floor—since 2020. The new lease brings the company’s total footprint to three full floors—39,000 s/f in total—within the building, reinforcing 16 West 22nd St. as a key headquarters location for the company’s operations moving forward.
“e.l.f. has been an exceptional tenant since they joined us in 2020,” said Barbara Yagoda, senior managing director of GFP Real Estate. “We are thrilled to see their continued growth and are proud to support them by accommodating their expanding needs within the building. It’s always rewarding to see a company flourish in place, and we’re excited to continue our partnership with such a creditworthy and dynamic tenant.”
Yagoda represented the landlord, Meysar Realty Corp., in the transaction; Jonathan Schindler of Cushman & Wakefield represented the tenant, e.l.f. Beauty. The spaces were previously occupied by Free Agency and Rebecca Minkoff, respectively.
With this expansion, e.l.f. has the physical hub to support its focus on further growing its color cosmetics and skin care businesses, and global expansion. The additional space will enable the company to enhance its operations and continue developing cutting-edge products for its customers around the world.
Built in 1910 by the architect William Harvey Birkmire, 16 West 22nd Street is a 12-story, 165,000 s/f neo-Renaissance store and loft building located in the Flatiron District. On the ground floor, one can find the Michelin-starred Korean steakhouse Cote—and Southern Italian favorite Zero Otto Nove. The building is situated near multiple subway transportation hubs as well as shopping and dining and the open space of Madison Square Park.
Tags:
Brokerage
MORE FROM Brokerage
Retreat at 490 Wheeler Rd. in Hauppauge
Hauppauge, NY Robert Raffa and Robert Monahan of Island Associates helped to negotiate a long-term lease for Retreat, a non-profit organization located at 490
Quick Hits
Columns and Thought Leadership
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
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,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
