Fashion Designer Vera Wang gets a new showroom in New York

Vera Wang, the famous fashion designer finds a new showroom in New York City’s Midtown, which previously used to be Pepsi-Cola’s building.

Vera Wang, a well-known bridal wear designer, who is moving from 15 East 26th Street, has secured a 26,708-square-foot lease on the fifth story and a portion of the seventh floor of the building at Morgan Stanley Prime Property Fund's 500 Park Avenue, according to the New York Post.

The length of the contract and the asking price of rent were not made public, but a Colliers report for the second quarter of 2023 indicated that the standard asking rent for Midtown was roughly $79 per square foot.

Vera Wang was represented in the deal by Jeffrey Peck, Daniel Horowitz, Roi Shleifer, and Christopher Foerch of Savills. Savills opted not to respond.

Vera Wang wasn't the only person to say "I do" at 500 Fifth, either. A 4,614-square-foot lease was also signed on the ground floor of the structure by the interior designer Frato, a brand owned by the Porto, Portugal-based Triva Group, to set up shop there for the first time this fall.

The landlord was represented by James Ariola and Michael Azarian of Cushman & Wakefield along with Gene Spiegelman of Ripco Real Estate. Requests for a comment from Ripco and C&W were not given.

The 11-story structure at the intersection of Park Avenue and East 59th Street was first known as the Pepsi-Cola Building and was built in 1960. SLR Capital Partners, The Georgetown Company, and Friedland Properties are some of the current tenants.