(Filed Under Fashion News). Adams & Co. Real Estate has brokered a five-year, 3,793-square-foot lease at 1071 Avenue of the Americas for Rue 21, a contemporary teen fashion company.
The new space represents the first New York showroom and office for the apparel company, which sells intimates under its own Tarea line. Rue 21, based in Warrendale, Pa., currently has no stores in New York, but has plans to open a store at the Jersey Shore Premium Outlets in New Jersey.
David Levy and Jeffrey Schwartz of Adams & Co. represented the landlord in the transaction, while Allen Gurevitch of Newmark Knight Frank represented the tenant. Though details of the lease were undisclosed, asking rents were $44 per square foot.
"Bryant Park, the home of New York's Fashion Week, is the ideal location for Rue 21," Levy said. "1071 Avenue of the Americas is a fantastic showroom destination for all types of fashion companies and we believe Rue 21 will be very happy in their new space."
Built in 1920, the 12-story, 151,533-square-foot property overlooks Bryant Park. The building houses many fashion tenants including Charlotte Ronson, J. Lo and Tommy Bahama.
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