Cosmetic Company Inks Deal for Garment District Headquarters
A cosmetics distributor co-founded by the creators of E.l.f. Beauty will move its headquarters to a full-floor in a Garment District building, Commercial Observer has learned.
AS Beauty signed a 10-year lease for 9,585 square feet on the entire ninth floor of Adams & Co.’s 42 West 39th Street between Fifth Avenue and Avenue of the Americas, the landlord said. Asking rent was $49 per square foot.
“The Garment District continues to attract many top firms in a variety of industries including beauty, fashion, luxury goods and tech given its central location and prime positioning in The Transit Triangle,” David Levy, a principal at Adams & Co. who represented both sides in the deal. “[The building] features a recently renovated lobby and new windows that allow in plenty of natural light creating a comfortable environment for the AS Beauty team.”
AS Beauty was founded by E.l.f. Beauty founders Alan and Joey Shamah along with the Azrak family, which makes pajamas, and primarily distributes Korean beauty products. In January, AS Beauty bought the bankrupt Glansaol—owner of brands Laura Geller Beauty, Julep and Clark’s Botanicals—for $18 million, Women’s Wear Daily reported.
The company plans to move into its new digs in the 18-story 42 West 39th Street in July, according to Adams & Co.
Other tenants in the 158,000-square-foot building include home goods and kitchenware brand Core Home, e-commerce retailer Bluefly and underwear brand Spanx.