Make Up For Ever, the renowned global cosmetics brand, is relocating within Midtown South and expanding its office space by more than 5,000 square feet. Savills Studley, the leading commercial real estate services firm specializing in tenant representation, advised the company in the 10 -year transaction.
Make Up For Ever’s new lease of 13,777 square feet encompasses the entire 4th floor of 841 Broadway. The company currently occupies 7,700 square feet at 853 Broadway and expects to relocate later this year.
Savills Studley’s Managing Director Oliver Petrovic and Executive Managing Director Marc R. Shapses represented Make Up For Ever in the long-term leasing transaction, while Robert Fisher of the Feil Organization represented the landlord in-house.Asking rents were in the low $70s per square foot.
According to Petrovic, Make Up For Ever outgrew its existing footprint but wished to remain in an “eclectic neighborhood consistent with the company brand” with accessibility to transit, shopping and restaurants.After surveying the entire market, the Savills Studley team found a newly-renovated, fully furnished space in the same area that fit their needs.
“Without enough space for the company to expand in its current building, we worked with ownership to find a solution that enabled it to keep a tenant and satisfy Make Up For Ever’s growing space needs for the future,” he said. “841 Broadway is an ideal location in Union Square that aligns perfectly with the brand’s image and corporate culture.”
“The building also provides for a location within close proximity to its clients and ease of access for employees,” Shapses added. “It will accommodate Make Up For Ever’s growing staff and help attract and retain top talent.”
Established in Paris in 1984 by makeup artist Dany Sanz, Make Up For Ever is known for its professional formulas and wide range of colors.In 1999, the brand joined the prestigious French group LVMH.The company’s products are available at fine department stores, sold exclusively in Sephora and through their own boutique network.
About Savills Studley
Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 29 offices in the U.S. and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.
The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals in over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).
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