NEW YORK—The Pearl Theatre Company has signed a long-term, 20-year lease to occupy 553 West 42nd Street. Totaling 7,000 sq. ft. of space, 553 West 42nd Street is located in close proximity to the company’s office, studio and costume shop and offers 50-ft. column spacing and 20-ft. ceilings.

Stephen Powers, director of Denham Wolf Real Estate Services Inc., worked on behalf of The Pearl Theatre Company to secure the deal. Matthew Gorman, managing director of New Street Realty Advisors, represented the landlord, Massachusetts Mutual Life Insurance Company.

Founded in 1984, The Pearl Theatre Company’s body of work encompasses an array of productions from Greek tragedy to the classics.