Case Study
David Yurman
Fashion, Art and Jewelry Design Firm Recommits to Tribeca Building Within a Building
December 1, 2023
Overview
David Yurman partnered with CBRE to negotiate an extension and expansion, allowing David Yurman to continue to grow its business in the building they have occupied since 1995. With unique, highly specific requirements due to the nature of David Yurman’s use and bespoke security, CBRE leveraged relocation alternatives to negotiate a below market deal in a rapidly changing Hudson Square submarket.
Solution & Result
- Lease termination option provided opportunity to address operational issues emerging after years of makeshift changes to accommodate growth.
- Specialized requirements that were costly to replicate - sample workshop, vault, showrooms, photo studio, extensive security measures.
- Branding, private entrance, security, secure loading dock.
- Venting capabilities, light manufacturing zoning and outdoor space.
- Evaluated various opportunities and deal structures including purchase, JV and leasing outside of the HQ.
- CBRE negotiated aggressive economics with an early rent reset, large concession package, and expansion space to be used as swing space during the renovation with future space and term flexibility.