GFP Real Estate LLC announced that E.l.f. Beauty has signed a new, 10-year lease for 26,000 square feet at 16 West 22nd St. in the Flatiron District, tripling its presence within the building.
The new lease marks a significant expansion for the brand, which has occupied 13,000 square feet at the building — a full floor — since 2020. The new lease brings the company’s total footprint to three full floors, totaling 39,000 square feet, within the building.
“E.l.f. has been an exceptional tenant since they joined us in 2020,” said Barbara Yagoda, senior managing director of GFP Real Estate. “We are thrilled to see their continued growth and are proud to support them by accommodating their expanding needs within the building. It’s always rewarding to see a company flourish in place, and we’re excited to continue our partnership with such a creditworthy and dynamic tenant.”
Yagoda represented the landlord, Meysar Realty Corp., in the transaction; Jonathan Schindler of Cushman & Wakefield represented the tenant. The spaces were previously occupied by Free Agency and Rebecca Minkoff, respectively.
With this expansion, E.l.f. has the physical hub to support its focus on further growing its color cosmetics and skin care businesses, and global expansion. The additional space will enable the company to enhance its operations and continue developing cutting-edge products for its customers around the world.
Built in 1910 by the architect William Harvey Birkmire, 16 West 22nd Str. is a 12-story, 165,000-square-foot neo-Renaissance store and loft building located in the historic Flatiron District. On the ground floor, one can find the Michelin-starred Korean steakhouse Cote and Southern Italian favorite Zero Otto Nove.
