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Levitz Furniture to Relocate Headquarters to Downtown Manhattan

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Levitz Furniture, a leading specialty retailer of furniture, bedding and home furnishings, announced that it will relocate its corporate headquarters to the historic Woolworth Building in downtown Manhattan. The announcement comes as the home furnishings leader continues its significant progress towards rebuilding the Levitz brand. Levitz Furniture expects the relocation will be complete by mid-December. The Company will move its current corporate office in Woodbury, N.Y. into the entire 23rd floor of the Woolworth Building, located at 233 Broadway between Barclay Street and Park Place in downtown Manhattan. Levitz Furniture will take approximately 30,000 square feet in the building in a sublease from Reuters. The Company will continue to maintain a small corporate presence in Woodbury, mostly within its Information Technology area. “We are continuing our efforts to strengthen the Levitz brand, and this move to lower Manhattan represents one more important step,” said Tom Baumlin, CEO of Levitz Furniture. “Over the past several months, we have attracted a world class management team and believe this move will further our efforts to continue to bring a superior level of creative talent to our organization. We are excited to tap into the energy of Manhattan and participate in the downtown area’s rebuilding efforts as we re-establish Levitz Furniture as a premier source for furniture, bedding and home furnishings.” Cushman & Wakefield Executive Director Andrew Peretz represented Levitz Furniture in its site selection and in lease negotiations with Reuters. “Tenants from all areas continue to realize the draw of downtown Manhattan,” said Mr. Peretz. “With new retail, residential and office components coming online, downtown is one of the most progressive business districts in the nation, and forward-thinking companies like Levitz Furniture want to operate here.” Built in 1913, the Woolworth Building is one of the 20 tallest buildings in New York City, and was the world’s tallest building until 1930 when it was surpassed by 40 Wall Street. The building, which totals 54 stories and more than 855,000 square feet, was commissioned by Woolworth’s founder Frank Woolworth as the retailer’s new corporate headquarters. About Levitz Furniture Levitz Furniture is a leading specialty retailer of furniture, bedding and home furnishings in the United States with 80 locations in major metropolitan areas, principally in the Northeast and on the West Coast of the United States as well as its presence on e-commerce sites, www.levitz.com and www.furniture.com. Additional information about the Company and its products is available at www.levitz.com. About Cushman & Wakefield Cushman & Wakefield is the world’s largest privately held real estate services firm. Founded in 1917, the firm has 195 offices in 55 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. Cushman & Wakefield also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133, or visit the firm’s Web site at www.cushmanwakefield.com. Contacts For Levitz Furniture Mike Rosen / Alan Marcus Bratskeir & Company 212-679-2233 mrosen@bratskeir.com amarcus@bratskeir.com or For Cushman & Wakefield Cara Greenberg Cushman & Wakefield 212-841-7660 cara.greenberg@cushwake.com Company Information Center Find an Expert Add to My Companies Print this Release E-mail this Release Close Window Terms of Use | © Business Wire 2006

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