Italian luxury fashion house Dolce & Gabbana is relocating its New York corporate headquarters within Midtown Manhattan. As announced by the landlord, the Feil Organization, the company will occupy space at 551 Fifth Avenue. The lease encompasses the entire ninth floor, comprising 21,000 square feet. Dolce & Gabbana is moving to the new location from directly across the street at 546 Fifth Avenue.
The parties did not disclose precise details regarding the duration of the agreement, but described the deal as long-term. According to reports in the New York Post, the asking rent for the floor was $65 per square foot. The exact date for the move into the property has not yet been announced.
Significant addition to Midtown Manhattan
Andrew Wiener, head of commercial leasing at the Feil Organization, explained that the vision for 551 Fifth Avenue is aimed at providing modern working environments for leading international companies. He noted that the arrival of Dolce & Gabbana underlines how the building continues to evolve and attract discerning occupiers who value a prime Midtown address.
During lease negotiations, the landlord was represented in-house by Andrew Wiener alongside Tim Parlante and Kevin Driscoll. Dolce & Gabbana was represented by an advisory team from Cushman & Wakefield comprising Louis D’Avanzo, Owen Koorbusch and John Fitzsimons.
Property structure and tenant profile
The office building comprises a total of 430,456 square feet of lettable space and is located at the corner of Fifth Avenue and 45th Street, three blocks north of the New York Public Library. Only in May this year, the Feil Organization signed a lease with the National Women’s Soccer League for an entire floor, also spanning 21,000 square feet, for its headquarters.
The property features an established tenant mix of well-regarded institutions and law firms. Other occupiers in the building include:
- —The National Women’s Soccer League with its organisation headquarters
- —Sadis & Goldberg, a law firm specialising in financial and corporate law
- —Commercial law firm Valla Morrison & Schachne
The latest deal strengthens the occupancy rate of the Art Deco tower and demonstrates the enduring appeal of established office corridors in central Manhattan for global premium brands.
