Representing East Midtown’s new energy, two major luxury brands are coming to 500 Park Ave. on East 59th Street, which consists of the 11-story former Pepsi-Cola building and a 40-story condominium tower.
Vera Wang signed a 26,708 square foot office lease and moved downtown from East 26th Street. The fashion designer will have office and exhibition space on the entire fifth floor and part of the seventh floor.
Meanwhile, Portuguese-based luxury furniture and home accessories brand Frato will open its first New York store with 4,641 square meters at street level on the corner of 59th Street.
JLL’s Cynthia Wasserberger, Frank Doyle and Michael Pallas represented the landlord in the Vera Wang lease. Jeff Peck, Daniel Horowitz and Christopher Foerch of Savills represented the tenant.
Frato was represented by Peter Weisman of Sinvin, while landlord was represented by Gene Spiegelman of Ripco and Michael Azarian and James Ariola of Cushman & Wakefield.