SL Green Inks Full-Building Lease in Manhattan

In a deal brokered by RKF and JLL, beauty conglomerate Coty Inc. will occupy more than 10,000 square feet of retail space in the firm's latest Times Square development.
Rendering of 30 Times Square, Manhattan

After disposing of an office condominium last month, SL Green Realty Corp. has signed a 10-year, 10,040-square-foot, full-building lease with Coty Inc. The beauty products manufacturer plans to move into the company’s retail flagship development at 30 Times Square in Midtown Manhattan in July 2018.

Completed in 2017, the property spreads across five stories at 719 Seventh Ave., in the midst of eateries, cafes, retailers, banks, accommodation options and art centers. The asset features floor-to-ceiling glass storefronts, 5,800 square feet of LED signage and 105 feet of wraparound frontage, providing the tenant exposure to millions of visitors and commuters daily.

RKF Vice Chairman Ariel Schuster, Managing Director Ross Berkowitz and Associate Jason Wecker represented the landlord in the lease transaction. JLL Vice Chairman Michael Hirschfeld acted on behalf of the tenant.

As the retail world evolves, Times Square has transformed, delivering state-of-the-art customer experiences, high sales volumes, social media engagement and global marketability, all of which are highly desirable in the current retail landscape,” SL Green Managing Director Brett Herschenfeld, said in a prepared statement.

Image courtesy of SL Green Realty Corp.