UNITED STATES
 SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_______________

FORM 8-K
_______________

CURRENT REPORT
 PURSUANT TO SECTION 13 OR 15(d) OF THE
 SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): March 17, 2010

BLUEFLY, INC.
(Exact name of registrant as specified in its charter)
         
Delaware
  
001-14498
  
13-3612110
         
(State or other jurisdiction
 of incorporation)
  
(Commission file
 number)
  
(I.R.S. Employer
 Identification No.)

     
42 West 39th Street, New York, New York
  
10018
(Address of principal executive offices)
 
  
(Zip Code)

Registrant’s Telephone Number, Including Area Code: (212) 944-8000

N/A
(Former name or former address, if changed since last report.)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
 
On March 17, 2010, Bluefly, Inc. (the “Company”) entered into a lease with 42-52 West 39 Street, LLC pursuant to which the Company agreed to lease approximately 18,000 square feet of office space that it currently occupies for an additional term of July 1, 2010 through December 31, 2020.  The annual rent for such office space is approximately $508,000, subject to annual increases of 3.5% per year.
 

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
 
(d) Exhibits
 
     
Exhibit No.
  
Description
10.1
  
Lease Agreement by and between the Company and 42-52 West 39 Street LLC, dated March 17, 2010.
 
 
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
BLUEFLY, INC.
(Registrant)
  
       
Date:  March 22, 2010
By:
/s/ Kara B. Jenny  
    Name: Kara B. Jenny  
    Title:   Chief Financial Officer