The cosmetics giant L’Oreal is currently in a 389,000-square-foot headquarters at 575 Fifth Ave., plus other locations, with the bulk of its space expiring in 2015.

Stephen Siegel, Michael Geoghegan and Lauren Crowley Corrinet of CBRE, Inc. made a search for large spaces, with affordable rents that were near mass transit and other amenities. This included the Park Ave. South buildings that will be vacated when the Port Authority moves to the World Trade Center.

L’Oreal decided on the Related Cos. south building at 10 Hudson Yards, where it will have the efficiencies of a new building along with parks and a new 7 subway stop.

It has leased 407,000 square feet that includes a partial floor, with an option for the balance, and about 5,000 square feet on the third floor. The building is scheduled to open in 2015.

The 15-year lease begins after Related has substantially completed base building and tenant improvement work. L’Oreal has the option to renew for five or 10 years and the right of first offer to lease additional areas.

The company has certain signage rights and will also benefit from a 15-year, 40 percent property tax reduction.

L’Oreal, Coach and SAP signed deals that will fill 80 percent of the building being developed in Hudson Yards. This site is part of the old Eastern Railyards that is being redeveloped under a lease from the Metropolitan Transportation Authority.