American Eagle Outfitters has signed a 20-year lease for 338,085 square feet at 63 Madison Ave. The 20-year transaction is the largest office lease in New York City thus far in 2024. George Comfort & Sons in collaboration with Savills worked on the multifaceted deal.
AEO has entered into a direct lease with George Comfort & Sons and its partners Jamestown and Loeb Partners Realty for 108,194 square feet across the entire 7th and 11th floors of the 15-story tower. This agreement also encompasses the entire 66,597 square feet of one of the tower’s concourse areas. Additionally, a sublease arrangement has been reached with CBS for the 8th, 9th, and 10th floors, totaling 162,291 square feet – approximately 54,097 square feet per floor – which will eventually convert into a direct lease.
The transaction followed an exhaustive search, encompassing tours of over 70 buildings across all submarkets. AEO saw the space at 63 Madison Ave. as an opportunity to consolidate its brands – American Eagle Outfitters, Aerie, Offline by Aerie, unsubscribed, & Todd Snyder – within the Midtown South Tower.
AEO was represented by Savills’ Mitti Liebersohn and David Goldstein, as well as Anna Erickson, Nate Brozowski and Will Demuth.
The landlord was represented by George Comfort & Sons’ CEO Peter S. Duncan, Matt Coudert and Alex Bermingham. Cushman & Wakefield’s Mark Boisi represented CBS in its sublease.
The 860,000-square-foot tower recently underwent a major renovation. Improvements included a brand-new lobby and enhanced retail spaces anchored by Whole Foods Market.