Luxury interiors brand Frato has leased the ground floor retail space at 500 Park Ave. for its first New York City store. In addition, fashion designer Vera Wang has signed a 26,708-square-foot office and showroom lease at the building, announced JLL.
Frato, established in 2010 in Portugal, has leased 4,641 square feet to showcase its range of luxury furniture and interior accessories. Vera Wang, the American fashion design house best known for its wedding dress and haute couture collections, has relocated from 15 East 26th St. and will occupy the entire fifth floor and part of the seventh floor of 500 Park Ave.
500 Park Ave. is comprised of the 11-story former Pepsi-Cola Building originally designed by SOM and constructed in 1960, and the 40-story 500 Park Tower, built in 1984. The pristine aluminum and glass structure features commercial office space on the lower floors and luxury condominiums on the upper floors. The office building was fully modernized in 2016 and the lobby was revitalized in 2020 by Gensler and features signature artwork and custom furnishings.
JLL Vice Chairmen Cynthia Wasserberger and Frank Doyle and Senior Vice President Michael Pallas represented 500 Park’s ownership in the lease with Vera Wang. The tenant was represented by Jeff Peck, Daniel Horowitz and Christopher Foerch of Savills. Frato was represented by Peter Weisman of Sinvin Real Estate. Gene Spiegelman of Ripco and Michael Azarian and James Ariola of Cushman & Wakefield serve as agents for the property’s retail space.
“As a boutique, high-touch asset, 500 Park Ave. remains one of the Plaza District’s statement properties,” said Wasserberger. “It’s elegant and modernist design appealed to the tenant and the oversized windows hovering above Park Avenue allow for a light-filled working experience that complements the Vera Wang showroom design.”
