Lee NYC Negotiates 15,479-Square-Foot Lease for Davines North America at CW Realty’s 61 North 11th Street in Williamsburg

June 14, 2019 – Lee & Associates NYC has negotiated a 10-year, 15,479-square-foot lease on behalf of luxury sustainable beauty company Davines North America at 61 North 11th Street...
61 North 11th New York

June 14, 2019 – Lee & Associates NYC has negotiated a 10-year, 15,479-square-foot lease on behalf of luxury sustainable beauty company Davines North America at 61 North 11th Street in North Williamsburg. Corey Horowitz, Executive Managing Director/Principal, and Kenneth Salzman, SIOR, Executive Managing Director/Principal, of Lee NYC negotiated the lease on behalf of the tenant, while the property owner, CW Realty Management, negotiated the lease in-house. Davines North America will be relocating from its current office in the penthouse of 50 West 23rd Street in Manhattan.

CW Realty acquired 61 North 11th Street in 2017 and began converting it into a lifestyle-oriented mixed-use property with commercial and retail space. The property is located adjacent to the Wythe Hotel in prime North Williamsburg and is poised to continue the area’s evolution into Brooklyn’s most vibrant locale.

Founded by the Bollati family in Parma, Italy in 1983, Davines North America’s parent company, The Davines Group, has become a prestigious global sustainable beauty company with three distinct brands in their portfolio, Davines, [ comfort zone ] and /skin regimen. As a B-Corp, the company keeps sustainability top-of-mind in their business model and all products are created and manufactured in Parma using the highest-quality natural ingredients and scientific rigor.

“This was a compelling deal for the building and the neighborhood, to say the least,” explains Horowitz. “Williamsburg has evolved into one of the most vibrant neighborhoods in the city, with an incredible array of dining, nightlife and shopping options. The scene there is truly unparalleled and the fact that a luxury company like Davines North America is making the move from Madison Square Park to Williamsburg is certainly an example of how quickly this neighborhood is rising in the ranks.”

Davines North America’s lease at 61 North 11th Street comprises the building’s entire second floor. The company will also have a private entrance to the building as well as exclusive access to a 3,000-square-foot landscaped deck with a seasonal vegetable and herb garden on an adjoining CW Realty-owned building, which will offer employees dramatic views of the Manhattan skyline. The interior space will be designed by Morris Adjmi Architects.

“Davines North America was looking for a commercial space that was more than an office building, and was embedded within a live-work-play neighborhood that would provide their employees with a dynamic experience,” adds Horowitz. “With its former use as the Sherry-Lehmann wine and distribution warehouse, the property features large floorplates, cast-iron columns and high ceilings, creating a unique work environment that aligns with the firm’s culture. The entire package was extremely appealing to Davines North America, and CW Realty did a great job of working creatively with the tenant to structure an agreement that was beneficial to both parties.”

The property is located between Kent and Wythe Avenues, directly across the street from the 500,000-square-foot office building under construction at 25 Kent Avenue, which will further establish the area as a commercial hub. It is also within blocks of iconic Williamsburg cultural institutions, restaurants and nightlife, including the William Vale, Brooklyn Bowl, House of Vans and Brooklyn Brewery

Categories
CommercialDealsLeasingMixed UseNationalNew YorkNortheastRetail

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