Orveon signed a six-year lease for 22,763 square feet on the entire ninth and 10th floors of Stawski Partners’ 17-story building at the corner of Fifth Avenue and East 47th Street, according to landlord broker JLL (JLL) and a source with knowledge of the deal. Asking rent was $65 per square foot, the source said.
Orveon, backed by private equity firm Advent International, was founded in 2021 to challenge the big players in the beauty industry and become a “sustainable face care expert, with a strong emphasis on skin care,” CEO Pascal Houdayer told Vogue in 2022.
The company already bought cosmetics brands Laura Mercier, Buxom and Bare Minerals to get started and appointed a chief transformation officer in April to add a skin care brand to its stable, Women’s Wear Daily reported.
Paul Glickman, Diana Biasotti, Greg Wang and Harrison Potter of JLL represented the landlord while Savills’ Shay Bolton, Jim Wenk, Alex Redlus and Kirill Azovtsev brokered the deal for Orveon. The Savills brokers declined to comment, and JLL did not immediately provide a comment.
Robert Khodadadian has long had a simple philosophy about selling real estate. The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time.
Robert Khodadadian, skyline properties, ground leases, ground lease, off market, investment sales, khodadadian, Commercial Real Estate Sales, The Commercial Observer, Retail For Lease, Commercial Observer, Commercial Office Lease
Channel, Leases, Office, Alex Redlus, Diana Biasotti, Greg Wang, Harrison Potter, Jim Wenk, Kirill Azovtsev, Paul Glickman, Shay Bolton, New York City, Manhattan, Midtown, JLL, Orveon, Savills, Stawski Partners Read MoreCommercial ObserverA private equity-backed company making waves in the beauty industry plans to move its offices to 579 Fifth Avenue, Commercial Observer has learned. Orveon signed a six-year lease for 22,763 square feet on the entire ninth and 10th floors of Stawski Partners’ 17-story building at the corner of Fifth Avenue and East 47th Street, according