Madison Avenue rebounds, diversifies

New York /
May.May 03, 2010 11:02 AM

With rents beginning to stabilize on Madison Avenue, the 30-plus
vacancies on the corridor between 57th and 72nd streets are

beginning to fill up with what, at the height of the market, would
have been an unlikely array of tenants. Once a corridor only
affordable to luxury jewelers and watchmakers, the city’s prime
shopping strip
has begun to attract a more varied set of apparel and
accessories retailers at $800 to $900 per foot, according to Crain’s.
The number of vacancies has dropped to around 20, and brokers report
that 15 leases have been signed within the past six months thanks to
clothiers like J. Crew, which recently inked a deal for a bridal
collection store at 769 Madison Avenue, and designer Carolina Herrera,
who will open a store for her more affordable lifestyle line, CH by
Carolina Herrera, between 67th and 68th streets. Orianne Collins, the ex-wife of musician Phil Collins, also officially announced today that she is taking 3,400 square feet at 655 Madison Avenue for her first U.S. jewelry store. [Crain’s]


Related Articles

arrow_forward_ios
Luxury clothing company signs at Reuben Brothers’ 769 Madison Ave.
Luxury clothing company signs at Reuben Brothers’ 769 Madison Ave.
Luxury clothing company signs at Reuben Brothers’ 769 Madison Ave.
601 Madison Ave. and Ben Soleimani (Google Maps, Ben Soleimani)
Ben Soleimani leases 12,000 square feet on Madison Avenue
Ben Soleimani leases 12,000 square feet on Madison Avenue
645 Madison Avenue (Google Maps)
645 Madison ground lease trades to Titan Golden for $27M
645 Madison ground lease trades to Titan Golden for $27M
645 Madison Avenue with Friedland Properties Principal Lawrence Friedland and Nightingale Properties CEO Elie Schwartz (Google Maps, Nightingale, Friedland)
Lender seizes 645 Madison Avenue leasehold from Nightingale, Friedland
Lender seizes 645 Madison Avenue leasehold from Nightingale, Friedland
David and Simon Reuben with 828 Madison Avenue (Getty, Google Maps)
Reuben Brothers to buy Vornado buildings on Madison Ave
Reuben Brothers to buy Vornado buildings on Madison Ave
Madison Avenue may be losing its iconic status as it struggles to regain its former foot traffic from pre-pandemic days. (Getty)
Madison Avenue’s shopping sorrows
Madison Avenue’s shopping sorrows
Pop-ups have become increasingly popular in recent years. Consumer spending last year totaled $8.4 billion (Getty)
Pop-ups offer potential lifeline to luxury streets
Pop-ups offer potential lifeline to luxury streets
Right to left: 831, 835 and 837 Madison Avenue (Google Maps)
“The ’57 Chevy in that old lady’s garage”: Madison Avenue buildings up for sale in litmus test for retail real estate
“The ’57 Chevy in that old lady’s garage”: Madison Avenue buildings up for sale in litmus test for retail real estate
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...