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National Retail

DKNY Shrinks HQ Following Company Shake-ups

On the heels of layoffs, founder Donna Karan's departure and while it's closing its flagship store, DKNY will be downsizing its office space as well. The fashion house will move its headquarters from its current 135k SF office on W 40th St to an 85k SF space in the RFR Realty-owned 25-story 285 Madison Ave. (The same building just went for $85M; JLL brokers Mitch Konsker and Alex Chudnoff repped RFR.)

The bad news is the latest shake-up for the fashion retailer, breaking shortly after DKNY's parent company filed a WARN notice about laying off dozens of employees.

But for RFR Realty the new lease is good news. RFR purchased the building three years ago for $190M and has been looking for creative tenants to fill its 1920s-era spaces. [Crain's]

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