Madison Avenue Survey - March 2021
MARKET OVERVIEW M A R C H 2 0 2 1 MADISON AVENUE R E TA I L S E R V I C E S P R E S E N TAT I O N O F
TABLE OF CONTENTS
3
MARKET SNAPSHOT
8
MADISONAVENUE STREETSCAPE (57TH – 72ND)
11
MADISONAVENUE AVAILABILITIES (57TH – 72ND)
3 8
MADISONAVENUE RECENT TRANSACTIONS (57TH – 72ND)
5 5
MADISONAVENUE STREETSCAPE (72ND – 79TH)
5 7
MADISONAVENUE AVAILABILITIES (72ND – 79TH)
6 4
MADISONAVENUE RECENT TRANSACTIONS (72ND – 79TH)
MARKET SNAPSHOT M A D I S O N
MARKETB EAT Madison Avenue Retail • Q4 2020
The Madison Avenue corridor from East 57th Street to East 72nd Street is considered New York City’s luxury submarket, home to top jewelry and haute couture fashion retailers. Known as the Gold Coast of Madison Avenue, this Midtown shopping corridor continues to be the preferred scene for global retailers searching for elite, upscale locations where prominence is assured. In addition, Madison Avenue from East 73rd to East 79th Streets is home to some of the world’s top fashion brands. While fewer tourists were able to visit New York City during 2020, the Upper East Side is also known for its affluent residential population who are drawn to boutiques such as Golden Goose, Vince, Zadig & Voltaire, and Christian Louboutin. Also lining this stretch of Madison Avenue are 5-star hotels such as The Carlyle and The Mark, and the Upper East Side’s Apple Store located on the corner of 74th Street. This area is also home to The Met Breuer Museum and many world-renowned galleries. Over the past year, Madison Avenue welcomed retailers such as FiveStory, Onia, AuRate, and Frame Denim to the neighborhood, with more to follow in 2021. Retail availability along Madison Avenue from East 57th to East 72nd Streets continued to rise throughout 2020, as it did in most of Manhattan’s retail submarkets, reaching 39.2% at the close of the fourth quarter. Madison Avenue’s rising availability is a trend that pre-dated pandemic market conditions—up 24.5% over the past five years, giving both current tenants the opportunity to relocate and expand and enabling new tenants to establish a presence on this corridor. The average asking rent at the close of 2020 was $772 per square foot (psf), down 14.3% year-over-year as new availabilities and an increasingly flexible nature regarding asking rents for already available spaces continued to put downward pressure on asking rents on Madison Avenue. During the first quarter of 2020, The Armoury leased 5,497 sf for a boutique at 840 Madison Avenue. Founded in Hong Kong in 2010, this high-end retailer has expanded from its first U.S. location in Tribeca, bringing its extensive range of custom products and bespoke services to the Upper East Side. During the second half of the year, Belgian label Maison Ullens signed a lease at 727 Madison Avenue, where it now occupies 1,254 sf for its ready-to-wear and accessories collections. Committing to its longtime presence in the neighborhood, Georgio Armani will temporarily relocate across the street to 761-765 Madison Avenue while its flagship building at 760 Madison Avenue is renovated. Subleasing from Bally on the corner of 62nd Street, Brunello Cucinelli announced plans to expand its current boutique at 683 Madison Avenue.
Availability Rates
Direct
35.8%
Sublease
3.4%
Overall
39.2%
Average Ground Floor Size
1,629 sf
Average Ground Floor Asking Rent
$772 psf
Highest Asking Rent
$1,200 psf
Lowest Asking Rent
$467 psf
Demographics
Population
7,165
Average Household Income
$268,506
Daytime Employees
47,433
Number of Retail Storefronts
176
Statistics include East 57th–East 72nd Streets
Major Retailers
© Cushman & Wakefield 2021
MARKETB EAT Madison Avenue Retail • Q4 2020
Top Deals by Size PROPERTY
TENANT
SIZE (SF)
761-765 Madison Avenue
Georgio Armani*
7,486
840 Madison Avenue
The Armoury
5,947
689 Madison Avenue
Brunello Cucinelli
4,686
798 Madison Avenue
Cesare Attolini**
3,028
755 Madison Avenue
Club Monte Carlo
2,000
1 2 3 4 7 5 6
1 2 3 4 7 5 6
*Temporary relocation **Renewal
Transportation Overview
A C E F
A C E F
Fifth Avenue/East 59th Street M B D M B D
East 68th Street
1 2 3 4 7 5 6
Subway Stops
N L S
N L S Q R
Q R
2019 Annual Ridership
J G
J G Z
Z
4,995,128
6,699,711
A C E F
M B D
N L S
Q R
J G
Z
Cushman & Wakefield Research Services 1290 Avenue of the Americas New York, NY 10104 +1 212 841 7500 www.cushmanwakefield.com/insights
©2021 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from multiple sources considered to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.
Madison Avenue | Market Snapshot East 57 th to East 72nd Street
Recent Top Transactions
Q4 20 Q4 19 39.2% 24.9%
Overall Availability Rate:
1
$1,200 PSF 645 Madison Avenue $467 PSF 809 Madison Avenue
Highest Asking Rent:
35.8% 22.0%
Direct Availability Rate:
3.4% 2.9%
Sublease Availability Rate:
Lowest Asking Rent:
689 Madison Avenue 4,683 SF
$772 $928
Average Ground Floor Asking Rent (PSF):
1,629 1,745
Average Ground Floor Size (SF):
Q3 20
2
5-Year Historic Availability Rate & Average Ground Floor Asking Rent
Asking Rent
Availability
10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0%
$1,200 $1,500 $1,800
39.2%
764 Madison Avenue 1,950 SF
24.9%
Q3 20
$0 $300 $600 $900
3
0.0% 5.0%
$1,601
$1,487
$1,415
$1,422
$1,402
$1,407
$1,431
$1,441
$1,413
$1,381
$1,300
$1,226
$1,178
$985
$960
$937
$921
$927
$822
$779
$772
727 Madison Avenue 1,254 SF
Q3 20
© 2021 | Cushman & Wakefield
6
Madison Avenue | Market Snapshot East 72 nd to East 79 th Street
Recent Top Transactions
Q4 20 YTD
Overall Availability Rate:
13.1%
1
$1,050 PSF 1022 Madison Avenue $275 PSF 1002 Madison Avenue
Highest Asking Rent:
Direct Availability Rate:
11.1%
Sublease Availability Rate:
2.0%
Lowest Asking Rent:
1007 Madison Avenue 1,045 SF
Average Ground Floor Asking Rent (PSF):
$633
Average Ground Floor Size (SF):
1,209 SF
Q4 20, Renewal
2
5-Year Historic Availability Rate & Average Ground Floor Asking Rent Quarter-by-Quarter Deal Trends Average Ground Floor Taking ent PSF
$0 $100 $200 $300 $400 $500 $600 $700 $800
1020 Madison Avenue 5,040 SF
$688
$644
$592
Q2 20
$548
$541
$530 $525
$490 $504
$480
$358
3
$263
N/A
900 Madison Avenue 3,417 SF
Q1 20
© 2020 | Cushman & Wakefield
2
* One deal comp available for designated quarter
STREET MAPS 5 7 T H - 7 2 N D
EAST 72ND STREET
EAST 72ND STREET
AVAILABLE COMPLETED
FIFTH AVENUE FIFTH AVENUE
MADISON AVENUE MADISON AVENUE 867 865 855 851 849 845 841 837 835 833 833 831 829 825-7 825 82 5 821 819 817 815 813 Available Asprey Lanvin Available Available Available AKRIS Available 845 Available
Ralph Lauren Women’s
888
Ralph Lauren Men’s
878 872
Ralph Lauren Kids Ralph Lauren Baby
St. James Church
EAST 71ST STREET
EAST 71ST STREET
870
The Real Real
Chrome Hearts Laduree Elie Saab
870 864 860 850 846 840 838 828 824 822 820 818 816 814 812 806 804 802 800 798 796 794 792 790 784 782 780 780 772 770 768 766 764 762 760
EAST 70TH STREET
EAST 70TH STREET
Michael Kors Vacant Available Robert Marc Eleuteri Available Oscar de la Renta Oliver Peoples Available John Paul Ataker CH Carolina Herrera John Lobb Cesare Attolini Ippolita Creed Available Marni Dolce & Gabbana Kids Monique Lhuillier Altuzzara Christofle Armoury Westbury Annie Bing LTD x Lizzie Tisch Available Mackage
Prada Anne Fontaine AKRIS
EAST 69TH STREET
EAST 69TH STREET
Dolce & Gabbana Dennis Basso Available Valentino Isaia Benson Sales Gallery Marina Rinaldi Max Mara
EAST 68TH STREET
EAST 68TH STREET
811 809 807 805 803 801 799 797 795 793 791 789 787 785 783 781 779 777 775 773 769 765 761 755 755 755 753
La Fonde Available Available Bonpoint Available Lingua Franca Frette Tory Burch Available Vacant Opera Gallery Available J. Mendel A. Lange & Shone
CENTRAL PARK
EAST 67TH STREET
EAST 67TH STREET
Available Available Available Available Kwiat Fred Leighton
EAST 66TH STREET
EAST 66TH STREET
Available to be Giorgio Armani to be Giorgio Armani
Available Bar Italia
Mardani Ludivine Vacant Giorgio Armani
Available Available Alice & Olivia Available
EAST 65TH STREET
EAST 65TH STREET
EAST 65TH STREET
EAST 65TH STREET
AVAILABLE COMPLETED
MADISON AVENUE MADISON AVENUE 747 747 743 741 737 729 727 725 723 721 717 715 713 711 689 681 677 675 673 673 709 703 701 699 69 3 6 67 6 67 6 67 6 67 667 655 655 655
Givenchy Alexander McQueen Morgane Le Fay Pomellato Chanel Vacheron Constantin Maison Ullens Available Available F.P. Journe to be Manolo Blahnik Available Longchamp Available
750
Roger Vivier
FIFTH AVENUE FIFTH AVENUE
746
Loro Piana
740
Bottega Veneta
EAST 64TH STREET
EAST 64TH STREET
726 720 718 716 714 712 710 706 700 698 696 694 692 690 688 680 680 680 680 676 672
Vacant Etro Beretta
De Beers Buccellati to be Graff Graff
EAST 63RD STREET
EAST 63RD STREET
To be Hermes Available Available Nello Tincati Available Hermes Mens
Chopard Pane rai Jaeger LeCoultre Jimmy Choo Hermes
EAST 62ND STREET
EAST 62ND STREET
Brioni Ralph & Russo Carlton Fine Arts Morgenthal Frederics Available Missoni Tom Ford
to be Brunello Cucinelli Brunello Cucinelli Available
Agent Provocateur Viand Coffee Shop Available Available Available Byredo Baccarat To be Montblanc Smythson Available Naturopathica Mark Cross Vacant Available Schutz Marc Jacobs
EAST 61ST STREET
EAST 61ST STREET
Available CENTRAL PARK 660
Available
654
WRN
EAST 60TH STREET
645 645 6 45 635 635 625 625 625 625 625 625 625 611 609 609 605 601 595
Tod’s
650
Moncler
650
Celine
650
EAST 59TH STREET
EAST 59TH STREET
Available Available Canali Eton
To be Dior
Balenciaga
767
628
The Plaza Hotel
Apple
Tumi
746
610
Wolford Santoni Fratelli Rossetti
to be Under Armour
767
610
Chase
EAST 58TH STREET
EAST 58TH STREET
Deciem Sermoneta Gloves
Bergdorf Goodman
754
745
Bergdorf Goodman
Available Montblanc Available Fendi
600 600 600 598
Available Available Tourneau (temp. store) Fendi
Hublot
743
Van Cleef & Arpels
744
Louis Vuitton
743
EAST 57TH STREET
EAST 57TH STREET
MARKET AVAILABILITIES 5 7 T H - 7 2 N D
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
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No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
RECENT TRANSACTIONS 5 7 T H - 7 2 N D
MADISON AVENUE RETAIL SPACE OVERVIEW – RECENT TRANSACTIONS
761 Madison Avenue | Between 65 th & 66 th Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
2,585
Lower Level
823
Total
3,408
TBD
COMPLETED
LEASE TYPE
TENANT
Q3 2020
Direct
Giorgio Armani
NOTES - 3 year term
765 Madison Avenue | Between 65 th & 66 th Street
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
2,629 1,449 4,078
Lower Level
Total
TBD
COMPLETED
LEASE TYPE
TENANT
Q3 2020
Direct
Giorgio Armani
NOTES - 3 year term
727 Madison Avenue | Between 63 rd and 64 th Streets 764 adison Avenue | Betw en 65 th & 6 th Stre ts
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
1,300
Lower Level
650
Total
1,950
COMPLETED
LEASE TYPE TBD – 3 Years
TENANT Ludivine
Q3 2020
NOTES - 3 year term - $175 PSF - Year 1 - $18,900/ month - Year 2 & 3 - $21,000/ month - Previously Derek Lam
No warranty or representation,express or implied, is made as to the accuracyof the information containedherein, and same is submittedsubject to errors, omissions,change of price, rental or other conditions.
MADISON AVENUE RETAIL SPACE OVERVIEW – RECENT TRANSACTIONS
689 Madison Avenue | Southeast Corner of 62 nd Street
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
3,060 1,623 4,683
Lower Level
Total
TBD
COMPLETED
LEASE TYPE
TENANT
Q3 2020
Sublease from Bally
Brunello Cucinelli
NOTES - Previously Bally
727 Madison Avenue | Between 63 rd and 64 th Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
873 381
Lower Level
Total
1,254
$250,000 PA
COMPLETED
LEASE TYPE
TENANT
Q3 2020
TBD
Maison Ullens
NOTES - Previously Nirav Modi - 8 year term - 6 months free
- Year 1: $250,000 PA, Year 2: $500,000 PA, Years 3-5: 2% increases, Year 5: Artificial jump / tenant right to terminate, Years 6-8: 2.5% Increases
755 Madison Avenue | Between Madison and Park Avenues
PREMISES Ground Lower Level
SF
ASK $/SF
ANNUAL RENT
$541
1,200 800 2,000
Total
COMPLETED
LEASE TYPE
TENANT
Q2 2020
TBD
Club Monte Carlo
NOTES - Previously Zadig & Voltaire - $540,000 PA
No warranty or representation,express or implied, is made as to the accuracyof the information containedherein, and same is submittedsubject to errors, omissions,change of price, rental or other conditions.
MADISON AVENUE RETAIL SPACE OVERVIEW – RECENT TRANSACTIONS
798 Madison Avenue | Between 67 th and 68 th Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
3,060 1,623 4,683
Lower Level
Total
TBD
COMPLETED
LEASE TYPE
TENANT
Q2 2020
Renewal
Cesare Attolini
811 Madison Avenue | Southeast Corner of 68 th Street
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
711 711
Lower Level
Total
1,422
$508,860 PA
COMPLETED
LEASE TYPE
TENANT La Fonde
Q1 2020
Direct – 1 year
NOTES - Option to extend for 2 years
840 Madison Avenue | Between Madison and Park Avenues
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
2,801 3.146 5,947
Lower Level
Total
TBD
COMPLETED
LEASE TYPE
TENANT
Q1 2020
TBD
The Armoury
NOTES - Previously Balenciaga
No warranty or representation,express or implied, is made as to the accuracyof the information containedherein, and same is submittedsubject to errors, omissions,change of price, rental or other conditions.
MADISON AVENUE RETAIL SPACE OVERVIEW – RECENT TRANSACTIONS
595 Madison Avenue | Between Park and Madison Avenues
PREMISES
SF
ASK $/SF
ANNUAL RENT
$950
Ground
2,757 2,757
Total
$2,619,150
COMPLETED
LEASE TYPE
TENANT
Q1 2020
Direct
Berluti
NOTES - 10 year term - $1,200 PSF, $3,308,400 PA - Previously part of Prada
717 Madison Avenue | Between Madison and 5 th Avenue
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground- Unit A 1,740
$600 (approx.)
2 nd Floor
596 600
Lower Level
Total
2,936
Ground- Unit B 1,867
$600 (approx.)
2 nd Floor
1,460
Lower Level
735
Total
4,062
$2,164,200
COMPLETED
LEASE TYPE
TENANT
Q4 2019
Direct – 10 years
ManoloBlahnik
NOTES - Previously Devi Kroell and Hueb - One year free rent - $500,000 tenant improvement allowance
595 Madison Avenue | Northeast Corner of 57 th Street
PREMISES Ground 2 nd Floor
SF
ASK $/SF
ANNUAL RENT
3,146 3,582
Lower Level 2,991 Sub Lower Level 1,744 Total 11.463
TBD
COMPLETED
LEASE TYPE
TENANT
Q4 2019
TBD
Fendi
NOTES - Previously Coach
No warranty or representation,express or implied, is made as to the accuracyof the information containedherein, and same is submittedsubject to errors, omissions,change of price, rental or other conditions.
MADISON AVENUE RETAIL SPACE OVERVIEW – RECENT TRANSACTIONS
650 Madison Avenue | 60 th Street Between Madison and 5 th Avenue
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
1,202 1,202
$240
Total
$288,000
COMPLETED
LEASE TYPE
TENANT
Q4 2019
Direct – 10 years
Domenico Vacca
NOTES - Previously Crate and Barrel - Free rent = 3 months - No TI
650 Madison Avenue | 59 th Street Between Madison and 5 th Avenue
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
2,500 2,500
$300
Total
$750,000
COMPLETED
LEASE TYPE
TENANT
Q4 2019
TBD
Bathing Ape (BAPE)
NOTES - Previously Crate & Barrel - Free Rent= 6 months - No TI - Frontage on 59 th Street
610 Madison Avenue | Between 58 th and 59 th Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
7,500 7,500
$750
Total
$5,625,000
COMPLETED
LEASE TYPE
TENANT
Q4 2019
Renewal - 15 years
Chase
NOTES - No TI
No warranty or representation,express or implied, is made as to the accuracyof the information containedherein, and same is submittedsubject to errors, omissions,change of price, rental or other conditions.
MADISON AVENUE RETAIL SPACE OVERVIEW – RECENT TRANSACTIONS
625 Madison Avenue | Southeast Corner of 59 th Street
PREMISES Ground 2 nd Floor Lower Level
SF
ASK $/SF
ANNUAL RENT
2,799 6,891 1,718 1,800
$428
Total
$1,200,000
COMPLETED
LEASE TYPE
TENANT
Q4 2019
2 years-
7 for All Mankind
Through June 2022
NOTES - PreviouslyDiesel
715 Madison Avenue | Between 63 rd and 64 th Streets
PREMISES
SF
ASK $/SF
MONTHLY RENT
Ground
1,800
Mezzanine Lower Level
800 400
Total
3,000
$50,000 per month
COMPLETED
LEASE TYPE
TENANT Nili Lotan
Q4 2019
TBD
NOTES - Pop Up at $50,000 per month, becomes month to month 1/1/2020
801 Madison Avenue | Between 58 th and 59 th Streets
PREMISES Ground 2 nd Floor
SF
ASK $/SF
ANNUAL RENT
1,326 1,057 1,057 6,998
Sub LL
Total
TBD
COMPLETED
LEASE TYPE
TENANT
Q4 2019
2 years
Lingua Franca
NOTES - Formerly Davide Cenci
No warranty or representation,express or implied, is made as to the accuracyof the information containedherein, and same is submittedsubject to errors, omissions,change of price, rental or other conditions.
MADISON AVENUE RETAIL SPACE OVERVIEW – RECENT TRANSACTIONS
625 Madison Avenue | Southeast Corner of 59 th Street is v | Between 68 th and 69 th Streets 817
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
3,002 1,089 4,091
$428
Lower Level
Total
$1,200,000
COMPLETED
LEASE TYPE
TENANT
Q4 2019
2 years-
Naftali Realty SalesOffice
Through June 2022
NOTES - PreviouslyDiesel
824 Madison Avenue | Southwest Corner of 71 st Street
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
355 955
$463
Second Floor
Total
1.310
$164,365
COMPLETED
LEASE TYPE
TENANT Paintbox
Q4 2019
Direct – 10 years
NOTES - 2 nd floor= $125 PSF - 4 months free
841 Madison Avenue | Southeast Corner of 70 th Street
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
3,100 4,500 4,500 4,500 3,100
$447
Second Floor Third Floor Fourth Floor Lower Level
Total
19,700
$2,400,000
COMPLETED
LEASE TYPE
TENANT
Q4 2019
Renewal
Prada
NOTES - 2% increases - Taxes $1.6M per annum
No warranty or representation,express or implied, is made as to the accuracyof the information containedherein, and same is submittedsubject to errors, omissions,change of price, rental or other conditions.
MADISON AVENUE RETAIL SPACE OVERVIEW – RECENT TRANSACTIONS
870 Madison Avenue | Southwest Corner of 71 st Street
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
1,900 1,900 1,900 5,700
$947
Lower Level
Sub LL
Total
$1,800,000
COMPLETED
LEASE TYPE
TENANT
Q4 2019
Renewal
The RealReal
NOTES
625 Madison Avenue | Between 58 th and 59 th Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
1,509 1,509
$350
Total
TBD
COMPLETED
LEASE TYPE
TENANT Santoni
Q3 2019
TBD
NOTES - Free Rent & TI TBD
743 Madison Avenue | Between 64 th and 65 th Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground Second
975 975 600
Lower Level
Total
2,550
$675,000
COMPLETED
LEASE TYPE
TENANT
Q3 2019
Direct 5 Years
Morgane Le Fay
NOTES
No warranty or representation,express or implied, is made as to the accuracyof the information containedherein, and same is submittedsubject to errors, omissions,change of price, rental or other conditions.
MADISON AVENUE RETAIL SPACE OVERVIEW – RECENT TRANSACTIONS
812 Madison Avenue | Southwest Corner of 68 th Street
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
850 350
$774
Lower Level
Total
1,200
$618,750
COMPLETED
LEASE TYPE
TENANT
Q3 2019
Direct- 10 years
Oliver Peoples
NOTES - Free Rent= 3 months
635 Madison Avenue | North East Corner of 59 th Street
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
2,753 1,967 4,720
$762
Lower Level
$2,100,000
Total
COMPLETED
LEASE TYPE
TENANT
Q3 2019
10 years
Montblanc
NOTES - Currently Moschino pop up - Free rent= 5 months - TI= $925,000
645 Madison Avenue | Between 59 th and 60 th Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
1,200 1,200
$1,000
Total
$1,200,000
COMPLETED
LEASE TYPE
TENANT Byredo
Q3 2019
10 Years
NOTES - Free rent: 12 months - TI 1 year rent
No warranty or representation,express or implied, is made as to the accuracyof the information containedherein, and same is submittedsubject to errors, omissions,change of price, rental or other conditions.
MADISON AVENUE RETAIL SPACE OVERVIEW – RECENT TRANSACTIONS
19 East 62 nd Street | Between Madison and Fifth Avenue
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
1,400 1,400
$171
Total
$240,000
COMPLETED
LEASE TYPE
TENANT
Q3 2019
Direct 2.5 Years
MaisonMontres
NOTES
650 Madison Avenue | Between Fifth and Madison Avenue
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
2,800 2,800
$570
Total
$1,596,000
COMPLETED
LEASE TYPE
TENANT Balmain
Q2 2019
Direct
NOTES - Previously Crate & Barrel - Ground floor space is on 59 th Street
680 Madison Avenue | Between 61 st and 62 nd Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
2,000 2,000
TBD
Total
TBD
COMPLETED
LEASE TYPE
TENANT
Q2 2019
Direct
Carlton Fine Art
NOTES
No warranty or representation,express or implied, is made as to the accuracyof the information containedherein, and same is submittedsubject to errors, omissions,change of price, rental or other conditions.
MADISON AVENUE RETAIL SPACE OVERVIEW – RECENT TRANSACTIONS
818 Madison Avenue | Between 68 th and 69 th Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground Second
1,416 1,589 1,260 4,265
Basement
Total
$1,000,000
COMPLETED
LEASE TYPE
TENANT
Q2 2019
Direct
Monique Lhuillier
NOTES - Previously Jil Sander - Ground $650 PSF, Second $50 PSF
870 Madison Avenue | Between 61 st and 62 nd Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
1,900 1,900 1,900 5,700
Lower Level
Sub LL
Total
$70,000
COMPLETED
LEASE TYPE
TENANT
Q2 2019
Direct- 8 months
The RealReal
NOTES - $1.8mm per annum if they stay permanent
601 Madison Avenue | Between 57 th and 58 th Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground Second
4,226 4,270 4,860
$233 $107
Lower Level
Total
13,356
$1,400,000
COMPLETED
LEASE TYPE
TENANT Tourneau
Q1 2019
Direct
NOTES - Short term deal - Term through 12/2021
No warranty or representation,express or implied, is made as to the accuracyof the information containedherein, and same is submittedsubject to errors, omissions,change of price, rental or other conditions.
MADISON AVENUE RETAIL SPACE OVERVIEW – RECENT TRANSACTIONS
667 Madison Avenue | Between 60 th and 61 st Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
2,726 2,436 5,162
$440
Lower Level
Total
$1,200,000
COMPLETED
LEASE TYPE
TENANT
Q1 2019
Sublease – 1/31/2023
Mark Cross
NOTES - Term 5 Years
680 Madison Avenue | Between 61 st and 62 nd Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
900 300
$1,027
Lower Level
Total
1,200
$925,000
COMPLETED
LEASE TYPE
TENANT
Q1 2019
Direct 10 Years
Sergio Rossi
NOTES - Free rent: 9 months - TI: $550,000 - Termination right in year 3
706 Madison Avenue | Between 62 nd and 63 rd Streets PREMISES SF ASK $/SF ANNUAL RENT Ground 7,416 Second 6,595 Third 7,002 Fourth 6,427 Fifth 2,308 Lower Level 8,813 Vault 7,899 Total 46,505 $15,500,000
COMPLETED
LEASE TYPE
TENANT Hermes
Q1 2019
Direct – 20 Years
NOTES - Will take possession in January 2020
No warranty or representation,express or implied, is made as to the accuracyof the information containedherein, and same is submittedsubject to errors, omissions,change of price, rental or other conditions.
MADISON AVENUE RETAIL SPACE OVERVIEW – RECENT TRANSACTIONS
725 Madison Avenue | Between 63 rd and 64 th Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
800 800
$760
Total
$652,840
COMPLETED
LEASE TYPE 18 Months
TENANT FP Journe
Q1 2019
NOTES - Renewal
780 Madison Avenue | Between 66 th and 67 th Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground Total
1,000 1,000
TBD
COMPLETED
LEASE TYPE
TENANT Orogold
Q1 2019
TBD
NOTES - Renewal
850 Madison Avenue | Between 69 th and 70 th Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
1,704 1,704
TBD
Total
TBD
COMPLETED
LEASE TYPE
TENANT
Q1 2019
TBD
CarolinaHerrera
NOTES - Short term deal
No warranty or representation,express or implied, is made as to the accuracyof the information containedherein, and same is submittedsubject to errors, omissions,change of price, rental or other conditions.
MADISON AVENUE RETAIL SPACE OVERVIEW – RECENT TRANSACTIONS
814 Madison Avenue | Between 68 th and 69 th Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
2,413 1,150 3,563
$620
Lower Level
Total
$1,496,000
COMPLETED
LEASE TYPE
TENANT Mackage
Q4 2018
Sublease – 4 Years
NOTES
680 Madison Avenue | Between 61 st and 62 nd Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
4,125 4,125
TBD
Total
TBD
COMPLETED
LEASE TYPE
TENANT Missoni
Q4 2018
TBD
NOTES - Short term deal
650 Madison Avenue | Northwest Corner of 59 th Street
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
6,098 3,612 9,710
$1,475
Lower Level
Total
$9,000,000
COMPLETED
LEASE TYPE
TENANT
Q3 2018
Direct – 15 Years
Celine
NOTES - TI: $13.5 Million (18 months) - Free rent: approximately 8 – 12 months
No warranty or representation,express or implied, is made as to the accuracyof the information containedherein, and same is submittedsubject to errors, omissions,change of price, rental or other conditions.
MADISON AVENUE RETAIL SPACE OVERVIEW – RECENT TRANSACTIONS
814 Madison Avenue | Between 68 th and 69 th Streets Southwest Cor er of 59 th Street 620 i
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
5,800 1,800 7,600
$862
Lower Level
Total
$5,000,000
COMPLETED
LEASE TYPE
TENANT
Q3 2018
Direct – 15 Years
Balenciaga
NOTES - Free rent: 10 months - Substantial TI package
655 Madison Avenue | Between 60 th and 61 st Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
1,156
$1,176
Lower Level
500
Total
1,656
$1,360,000
COMPLETED
LEASE TYPE
TENANT
Q3 2018
Direct – 10 Years
Schutz
NOTES - Renewal
783 Madison Avenue | Between 66 th and 67 th Streets
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground Second
1,342
$1,017
500
Lower Level
1,200 3,042
Total
$1,365,000
COMPLETED
LEASE TYPE
TENANT Vhernier
Q3 2018
Direct – 10 Years
NOTES - Free rent: 6 months
No warranty or representation,express or implied, is made as to the accuracyof the information containedherein, and same is submittedsubject to errors, omissions,change of price, rental or other conditions.
MADISON AVENUE RETAIL SPACE OVERVIEW – RECENT TRANSACTIONS
620 Madison Avenue | Southwest Corner of 59 th Street 21 East 67 th Stre t | Between Fifth and Madison Avenue
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground Second
1,500 1,700
$433
Lower Level
700
Total
3,900
$650,000
COMPLETED
LEASE TYPE
TENANT
Q3 2018
Direct – 10 Years
What Goes AroundComes Around
NOTES - Free rent: 6 months
611 Madison Avenue | Southeast Corner of 58 th Street
PREMISES
SF
ASK $/SF
ANNUAL RENT
Ground
400 400
$1,160
Total
$464,000
COMPLETED
LEASE TYPE
TENANT Deciem
Q1 2018
Direct – 15 Years
NOTES - Previously Fogal
No warranty or representation,express or implied, is made as to the accuracyof the information containedherein, and same is submittedsubject to errors, omissions,change of price, rental or other conditions.
STREET MAPS 7 2 N D - 7 9 T H
EAST 79TH STREET
EAST 79TH STREET
AVAILABLE COMPLETED
MADISON AVENUE MADISON AVENUE 971 971 971 NARS Diptyque Available 991 991 987 987 985 981 975 1009 1007 1001 1001 999 997 995 1025 1021 1015 1015 1015 1013 1011 Vera Wang Available Il Gufo BA&SH Chase Alain Mikli David Cenci Available Arche Shoes IRO L’AGENCE
FIFTH AVENUE FIFTH AVENUE
Available Michael Ashton Serafina Five Story La Maison Du Chocolat Arader Auctions
10 22 1022 1022 1020 1018 1016 988 988 980 980 980 976 974 998 996 996 994 992 1010 1002 1000 1006
EAST 78ST STREET
EAST 78ST STREET
to be AG Jeans Vilebrequin Intermix Mariko Wolford
Residential Available Available Saint Ambroeus Sidney Garber La Ligne Punto Ottico Tulip Zadig & Voltaire Veronica Beard Sandro
EAST 77TH STREET
EAST 77TH STREET
EAST 76TH STREET N.Peal Vacant Dita Eyewear Vacant Stubbs & Wooton Morgenthal Frederics Vacant Vacant Mykita Compass Real Estate 3 Guy’s Restaurant Lik Gallery Lafayette 148 Carolina Herrera Stephen Russell Elizabeth Locke Rebecca Taylor Douglas Elliman Ramy Brook Gagosian Gallery & Café Vince EAST 75TH STREET
Orlebar Brown Gabriela Hearst Bemelmans Bar The Carlyle Hotel Helly Nahmad Gallery
EAST 76TH STREET
952 950 946 946 944 944 942 940 970 968 966 962 962 962 960 958 956 954
The Frick Collection Joe Bananas Golden Goose Aquazzura Available Nespresso Zitomer Pharmacy Christian Louboutin Aquatalia Gianvito Rossi Available Available Alexandre Birman Infinite Beauty
909 907 905 903 901 899 897 931 929 927 925 921 945 943 935 935 937 933 969 967 965 963 959 959 957 955 895 905
EAST 75TH STREET
David Webb Apple Store
EAST 74TH STREET
EAST 74TH STREET
926 926 924 922 922 922
Acne Studios Available Stribling Djula Eli's Essentials Frances Valentine
CENTRAL PARK
Marche Madison
Stella McCartney (temp. closed) Rene Coutoure
Christian Science Reading Room
Madison Ave. Presbyterian Church
EAST 73RD STREET
EAST 73RD STREET
Lévy Gorvy Gallery Vacant Bra Smyth Spring Flowers Come Prima Ristorante Robert Clergerie Selima Optique & Accessories
Frame
900 900
Zimmerman Frederic Malle Editions de Parfums
900
Bond No. 9 Paul Morelli
EAST 72ND STREET
EAST 72ND STREET
MARKET AVAILABILITIES 7 2 N D - 7 9 T H
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
RECENT TRANSACTIONS 7 2 N D - 7 9 T H
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions.
Eric Le Goff
Executive Managing Director 212 841 5983 eric.legoff@cushwake.com
James S. Downey Executive Managing Director 212 841 7806 james.downey@cushwake.com
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