The tech big inked a six-year sublease with Macy’s to take one other 116,00 sq. toes on the ninth and 10th flooring of the 23-story constructing between West 31st and West 32nd Streets, The Actual Deal reported. Asking hire was within the mid-$60 per sq. foot.
Apple first took house in Vornado Realty Belief’s 1.15-million-square-foot property in February when it signed a sublease with Macy’s for 220,000 sq. toes on the 11th and 14th flooring. Its new deal brings Apple’s complete footprint within the constructing to 336,000 sq. toes.
The Cupertino, Calif.-based Apple began negotiating for house in 11 Penn Plaza earlier this yr after it misplaced out to social media big Fb at Vornado’s close by Farley Publish Workplace, the New York Publish reported. Fb took 730,000 sq. toes within the redevelopment of the landmarked submit workplace in August.
Apple will take over the Penn Plaza house from Macy’s, which has been headquartered within the constructing for years. The struggling division retailer introduced plans earlier this yr to consolidate its places of work across the nation to New York Metropolis to chop prices.
Macy’s plans to maneuver the vast majority of its operations to Lengthy Island Metropolis, Queens — the place it leased 850,000 sq. toes at 28-97 Jackson Avenue final yr — whereas holding a smaller presence close to Penn Plaza at its Herald Sq. flagship, Crain’s New York Enterprise reported.
JLL’s Peter Riguardi, Martin Horner and Kirill Azovtsev represented Apple within the deal whereas Vornado dealt with it in-house. Scott Gottlieb, Liz Lash and Ross Zimbalist of CBRE represented Macy’s. Spokespeople for JLL, CBRE and Vornado declined to remark.