{"id":355111,"date":"2026-09-23T23:16:26","date_gmt":"2026-09-23T23:16:26","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/355111\/"},"modified":"2026-09-23T23:16:26","modified_gmt":"2026-09-23T23:16:26","slug":"on-sneaker-maker-beloved-by-roger-federer-and-kylian-mbappe-moves-nyc-hq-to-penn-1-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/355111\/","title":{"rendered":"On, Sneaker Maker Beloved by Roger Federer and Kylian Mbapp\u00e9, Moves NYC HQ to Penn 1 \u2013 Commercial Observer"},"content":{"rendered":"

It\u2019s On<\/a>!\u00a0\u00a0<\/p>\n

The Swiss athletic sneaker and apparel company now known as On is moving and expanding its New York City office headquarters to 85,000 square feet at Vornado Realty Trust<\/a>\u2019s Penn 1, Commercial Observer has learned.<\/p>\n

SEE ALSO: Nomic AI Inks 5K-SF Deal at 99 University Place Near Union Square<\/a><\/p>\n

The company, previously known as On Running, is currently located in a small office by comparison at Spear Street Capital\u2019s 165 Mercer Street in SoHo.<\/p>\n

According to industry sources, On will have 61,000 square feet on the entire eighth floor of Midtown\u2019s 1 Pennsylvania Plaza, as well as 24,000 square feet on part of the seventh floor, where the company will enjoy an outdoor terrace.<\/p>\n

The 15-year deal had an asking rent of $120 per square foot.<\/p>\n

A CBRE<\/a> team of Sinclair Li, Patrick Moroney and Liz Lash represented On in the deal, while Vornado was repped in-house by a team of Jared Silverman and Josh Glick.<\/p>\n

The company was founded in the Swiss Alps in 2010 by Ironman champion Olivier Bernhard. He later brought in friends Caspar Coppetti and David Allemann, now co-CEOs, to form the company.<\/p>\n

By 2012, Swiss triathlete Nicola Spirig was wearing the brand\u2019s Cloudracer shoe, and sales took off. Tennis star Roger Federer became a shareholder in November 2019, and the company released a shoe called the \u201cRoger\u201d in July 2020.<\/p>\n

It went public in September 2021 on the New York Stock Exchange, raising $746 million. On is growing its direct-to-consumer sales and has a mission \u201cto ignite the human spirit through movement\u201d by selling \u201cpremium footwear, apparel and accessories for high performance running, outdoor, training, all-day activities and tennis,\u201d according to its website.<\/p>\n

On\u2019s tagline \u2014 \u201cdream on\u201d \u2014 is resonating with consumers in over 90 countries, with sales reaching $1 billion in the second quarter of this year, up by 13.5 percent year-over-year with a gross profit of $676 million.<\/p>\n

In mid-September, French soccer star Kylian Mbapp\u00e9 even ditched Nike and became On\u2019s global ambassador.<\/p>\n

On already has New York City stores at 162 Fifth Avenue in the Flatiron District, 363A Lafayette Street in NoHo, and 93 North Sixth Street in Williamsburg, Brooklyn. Sources say the company is also negotiating to take over the former Dior temporary store at the General Motors Building at 767 Fifth Avenue.<\/p>\n

A Colliers<\/a> team led by David Green and Cushman & Wakefield<\/a>\u2019s Steven Soutendijk represent the space and landlord BXP<\/a> at that last location. The 767 Fifth Avenue store has 6,552 square feet on the ground floor, 743 square feet on a mezzanine level, 5,201 square feet on a lower level, and 1,919 square feet of nearby storage space \u2014 all for a total of 14,415 square feet.<\/p>\n

The brokerages and the On media reps in Switzerland did not immediately respond to requests for comment.<\/p>\n","protected":false},"excerpt":{"rendered":"It\u2019s On!\u00a0\u00a0 The Swiss athletic sneaker and apparel company now known as On is moving and expanding its…\n","protected":false},"author":2,"featured_media":355112,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[132348,2166,3624,53111,99508,99509,132349,2361,132350,75,84,83,9,24,63,132347,132351,132352,78165,123978,132353,2182],"class_list":["post-355111","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-165-mercer-street","tag-767-fifth-avenue","tag-channel","tag-david-green","tag-jared-silverman","tag-josh-glick","tag-kylian-mbappe","tag-leases","tag-liz-lash","tag-manhattan","tag-manhattan-headlines","tag-manhattan-news","tag-new-york","tag-new-york-city","tag-nyc","tag-office-leases-1-penn-plaza","tag-olivier-bernhard","tag-patrick-moroney","tag-penn-1","tag-roger-federer","tag-sinclair-li","tag-steven-soutendijk"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/355111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=355111"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/355111\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/355112"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=355111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=355111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=355111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}