Jason Binn’s luxury lifestyle magazine, DuJour, is moving from offices it shares with backer Gilt Group at 2 Park Ave. to new space at 530 Seventh Ave. later this month.
DuJour’s three dozen staffers have been occupying both the fourth and fifth floors along with the flash-sale site, which was an original investor in the magazine. Binn also serves as Gilt’s chief adviser.
Canadian department store giant Hudson’s Bay Co., which also owns Lord & Taylor and Saks Fifth Avenue, bought Gilt in January for $250 million.
The space crunch at Brookfield Place for Hudson’s Bay, coupled with an offer it couldn’t refuse for space on the fifth floor at 2 Park Ave., sent DuJour spinning off on its own.
Hudson’s Bay previously signed a lease to move its city headquarters to 400,000 square feet at Brookfield Place, divided up into 233,000 square feet at 225 Liberty St. and 166,000 square feet at 250 Vesey St. The department store chain was repped by CBRE.
(It will also open an 85,000-square-foot Saks Fifth Avenue store at 225 Liberty St. and a 55,000-square-foot Saks Off Fifth discount store at One Liberty Plaza.)
The Trade Desk, an ad tech firm in a much smaller space at 386 Park Ave. South, made an offer through CBRE brokers for 2 Park Ave.’s fifth floor consisting of 49,694 square feet.
CoStar data shows the asking rent at $64 per foot.
That sent DuJour scouting around Midtown South and landing at 530 Seventh Ave. The magazine will have two large private spaces within Space 530 on the property’s mezzanine level, which is operated by the Savitt Partners building ownership.
In 2012, Binn, the founder of Niche Media, targeted affluent buyers with the launch of the print and digital versions of DuJour. His partners are Gilt, James Cohen of Hudson News and Dufry, which operates a global group of duty-free shops.
Binn could not be reached, but sources familiar with the companies say despite the separate offices they will “of course” continue to work together.
