Moët Hennessy Usa Relocates New York Headquarters To Chelsea Market's 85 Tenth Ave

13 Jun, 2005, New York, NY

Cushman & Wakefield represents leading U.S.-importer of luxury wines and spirits
in 56,000-sf headquarters relocation

Newmark represents ownership in bringing building occupancy to 100 percent

Moët Hennessy USA, a leading importer and distributor of luxury wines and spirits, has leased 56,000 square feet to relocate its New York headquarters to Chelsea's 85 Tenth Ave.

Moët Hennessy, which has a strong portfolio of prestigious brands including Hennessy, Dom Pérignon, Grand Marnier, Moet & Chandon, Belvedere Vodka and Veuve Clicquot, signed a long-term lease for the entire second floor of 85 Tenth Ave. The lease brings occupancy in the building to 100 percent.

Previously operating as Schieffelin & Co., Millennium and Clicquot Inc. The new Moët Hennessy USA plans to relocate from Two Park Avenue in Midtown. Schieffelin & Co. has roots in New York dating back more than 200 years. The company is owned by LVMH, one of the world’s most prestigious luxury goods companies.

Built in 1931, 85 Tenth Avenue is an 11-story, 560,000-square-foot building located between 15^th and 16^th Streets in Chelsea. The building occupies a full block and is separated from the Hudson River solely by the West Side Highway.
Cushman & Wakefield brokerage professionals Don Preate, Frank Coco and Jamie Katcher represented Moët Hennessy USA in its space evaluation, site search and lease negotiations with the building's ownership.

The ownership was represented by Newmark's David Falk, Peter Shimkin and Nick Berger.

Moët Hennessy USA will relocate to a distinctive building and a 24/7 vibrant neighborhood," said Mr. Preate, a Cushman & Wakefield Senior Director based in the firm's Midtown Manhattan world headquarters. "85 Tenth Avenue offers 14-foot arched ceilings, exposed brick walls, and floor-to-ceiling windows on all four sides. This new headquarters space will enable Moet Hennessy USA to provide its employees and clients with an incredible light-filled and architecturally unique environment. In addition, Moet Hennessy USA will consolidate its operations from two floors to one and reduce its overhead significantly.

The addition of such a prestigious company as Moët Hennessy USA is a fitting conclusion to the success story of 85 Tenth Ave.," said Newmark executive vice president and principal David Falk. "The property is now at 100 percent occupancy.

Falk also noted that award-winning chef Tom Colicchio will soon launch his new restaurant, Craftsteak, at 85 Tenth Avenue. The world renowned restaurateur recently signed a lease for 8,000 square feet - space that was previously occupied by Frank's Steakhouse. Restaurateur Mario Batali will be opening Il Posto at 85 Tenth Avenue as well.

Other prominent tenants at 85 Tenth Ave. include Lehman Brothers, Level 3 Communications and College Sports Television.

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About Newmark

Newmark is one of the largest independent real estate service providers based in the United States. It provides comprehensive real estate services to many of the world's most prominent corporations, property owners, investors and developers. Headquartered in Manhattan, and with offices throughout the world employing nearly 800 people, Newmark has created a global platform from which to serve its growing list of corporate clients. Annually, the firm completes nearly 25 million square feet of transactions, valued at over $9.5 billion in total consideration. Additionally, Newmark serves as leasing agent and/or property manager for 50 million square feet of commercial space nationally. For further information, please visit the firm's website at www.newmarkre.com.

About Cushman & Wakefield

Founded in New York City in 1917, Cushman & Wakefield is the world's largest privately held commercial real estate services firm. From its Midtown Manhattan world headquarters, the firm operates more than 175 offices in 50 countries and employs more than 11,000 professionals. In addition to office brokerage, Cushman & Wakefield maintains one of the industry's strongest retail services groups. The firm is New York City's largest property manager, with more than 52 million square feet of property under management, and is a leader in investment sales, valuation, research and other advisory services. Cushman & Wakefield maintains eight full-service offices in the New York tri-state area. In addition to Midtown and Downtown Manhattan, Cushman & Wakefield maintains leading metropolitan area offices in Stamford, Conn., White Plains and Melville, N.Y., East Rutherford, Iselin and Parsippany, N.J.

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Contacts:
Cushman & Wakefield -Dwayne Doherty- 212-841-7748- ddoherty@cushwake.com
Newmark- Mira Matic- 973-335-4980- mmatic@ppronline.com

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