Women’s apparel retailer New York & Co. signed a new lease and will move its headquarters to 185,000 square feet in the Vornado Realty building at 330 W. 34th St., The Post has learned.
The real estate investment trust mentioned on a Tuesday morning conference call that a deal for the space had been signed Feb. 24, but did not disclose the name of the tenant.
Sources later confirmed it is the 500-store apparel chain.
The fashion company has been based at nearby 450 W. 33rd St. for more than 20 years, since it was known as the Lerner Shops.
New York & Co. is now expected to move to four floors of about 45,600 square feet each in the lower portion of the Vornado building by the end of this year after working out an agreement with the current building owner, Brookfield Properties, to leave six months early.
The retailer is known for seasonal trends at value pricing with trendy collections including one by the actress Eva Mendes.
Lerner Shops was founded in 1918 by Harold M. Lane and Samuel Lerner, the uncle of Alan Jay Lerner, the lyricist.
Vornado is completing a full renovation of the building as part of its efforts to upgrade its Penn Plaza portfolio. Because of the interest in Midtown South and the Hudson Yards “everything is tilting towards the Penn Plaza District,” Chief Executive Steve Roth has said.
Vornado also is renovating the Hotel Pennsylvania, which Roth calls “the single most important focus of our portfolio.”
New York & Co. was represented by a CBRE team of Steve Siegel, Ken Meyerson, Lauren Crowley and Brendan Herlihy along with independent consultants Doane Kelly and David Fleischer of KLG Advisors and Alan R. Grossman of ARG Realty Consultants.
NY&C shares have gained 5 percent over the past year, and were off slightly in early afternoon trading Tuesday, down 2 cents, to $4.44.
