Iconic Fifth Avenue women’s store to create greater sales space

One of New York City’s most iconic luxury apparel stores is getting bigger.



Bergdorf Goodman will relocate its executive offices and other non-sales related functions to 4 West 58th Street, adjacent to its iconic Fifth Avenue location. The move will create an additional 25,000 sq. ft. of retail space in the retailer’s flagship, including the entire 8th and 9th floors.



CBRE’s Joseph Fabrizi, executive VP; Michael Wellen, senior VP, consulting, and Arkady Smolyansky, VP, along with Steve Quintin, president of Westfair Realty, represented Bergdorf Goodman in the 15-year lease with existing options for floors three through four at 4 West 58th Street.



“This unique expansion plan allows Bergdorf Goodman to greatly increase its flagship store selling space thanks to an innovative approach that allows the famed luxury retailer’s executives and employees easy access through multiple corridors between the two buildings,” said Joseph Fabrizi, executive VP for CBRE. “We are quite happy to have aided Bergdorf Goodman in its largest growth in more than 45 years.”



In concert with Bergdorf Goodman’s expansion at 4 West 58th Street, Fabrizi and his CBRE Long Island City team represented the company in the relocation of its LIC Alternatives Design Display Facility to 53,000-sq.-ft. at 39-34 43rd Street in Queens.



“Our BG 20/20 five year plan envisions expanding both our physical store and digital presence,” said Joshua Schulman, president of Bergdorf Goodman and NMG International. “Being able to relocate our offices to a contiguous space is a once-in-a-lifetime opportunity to expand our selling space at our landmark Women’s Store and provide an even better experience for our customers.”



The expansion kicked off in September with the opening of the fully reimagined and renovated sixth floor, and a new jewelry salon, with its own dedicated entrance and windows on 57th Street. By fall 2016, the remainder of the main floor will be fully renovated into a series of salons along Fifth Avenue for luxury handbags.



JLL’s Scott Panzer represented 4 West 58th Street in the transaction.