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.

ma

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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