Popular Online Fashion Marketplace Building New HQ in its Home of 20 Years
Adams & Co. Real Estate, a Manhattan-based full-service commercial brokerage firm, recently signed a 9,585-square-foot lease for Bluefly Acquisition, LLC., a high-end discount fashion retailer, at 42 West 39th Street. Following an acquisition, the popular e-commerce company is repositioning its business and opted to keep its headquarters on the ninth floor of 42 West 39th Street, where it has been located since it was founded nearly 20 years ago. Bluefly plans to completely renovate the space and create a flexible office that accommodates its employees and its position within the evolving e-commerce and retail industries. During construction, the company will be temporarily located on the 10th floor of the building.
David Levy and Brett Maslin of Adams & Co. represented the tenant and the landlord, 42-52 West 39 Street LLC, in the transaction. The asking rent in the deal was $44 per square foot.
“The e-commerce industry is constantly evolving, especially as the retail market continues to shift. To continue to stay competitive, Bluefly is focusing on expanding internationally; the company is opening pop-up locations across the globe, starting with a location in Manhattan on 45th Street, just east of 5th Avenue. This shift in strategy resulted in a need for an updated installation, where employees can work more efficiently as a team,” said David Levy, a principal of Adams & Co. “It was important to Bluefly that its headquarters remain in the Transit Triangle – the executives wanted to be near like-minded businesses located in this hub. At 42 West 39th Street, we were able to offer Bluefly the opportunity to build out the ninth-floor space, so it best fit the needs of its employees and its business goals.”
Founded in 1998, Bluefly is a highly curated, online fashion marketplace offering luxury at a discount. The e-commerce retailer offers products ranging from designer shoes and handbags, to must-have apparel, beauty, and vintage goods. Consumers have access to more than 3,000 coveted designer brands and contemporary labels, including Burberry, Gucci, Prada, Stella McCartney, Valentino, and Tod’s.
Built in 1927, 42 West 39th Street, is an 18-story, 157,748-square-foot commercial office building. The property sits between Fifth and Sixth Avenues and offers tenants a concierge service and 24/7 building access. Tenants at the property include Spanx, Inc., Magnusson Architectural and Planning P.C., Fragments Holdings, Wear First LLC and Castlewood Apparel. Located one block away from Bryant Park, 42 West 39th Street is easily accessible by the B, D, F, M trains at the 42nd Street-Bryant Park subway station and by the N, Q, R, W trains at the 42nd Street-Times Square station.
About Adams & Co. Real Estate, LLC
Adams & Co. Real Estate, LLC is among the top five leasing companies in New York City, as measured by total square feet. The full-service real estate firm is responsible for millions of square feet of office space and provides property management, brokerage and consulting services throughout Manhattan by teaming experience with innovation.
