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Coach sells New York headquarters

03/08/2016
Leathergoods brand Coach has announced the sale-leaseback of its headquarters in New York City. The company said it received about $707 million form the deal, before transaction costs of $26 million. 

The brand now has a 20-year lease on its portion of the Hudson Yards property. The lease consists of the entire 9th to 23rd floors of the building, with an option of expanding to additional floors.

“We are very pleased to monetise our investment in Hudson Yards, where we were the first company to commit to the project and will be the largest tenant in the new building,” said Coach CEO, Victor Luis.
He added that it will allow the company to bring its Coach and Stuart Weitzman operations under the same roof in a “modern work space”.

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