The Real Deal New York

Large retail space on Madison Avenue hits market

Sources speculate ground floor of Emmet Building could command around $150 per square foot
By Katherine Clarke | March 24, 2014 02:45PM

A 20,000-square-foot, multi-level retail space at the base of the 100-year-old Emmet Building at 95 Madison Avenue has hit the market.

The space, between East 28th and East 29th streets, is being marketed by Winick Realty Group’s Steven Baker, Darrell Rubens, Ross Burack and Jeremy Schwartz.

While Winick declined to comment on the rents, sources speculated that the ground floor could command up to $150 per square foot and the upper floors $50 to $60 a foot.

“The Emmet Building is surrounded by an impressive roster of retailers, including Fendi, Natuzzi and DDC,” Baker said. “We envision this site as a great opportunity for a high-end furniture retailer to lease all three floors and create a brand headquarters with a showroom or design center component.”

The property still has many of its original features, including 17-foot ceilings on the 4,061-square-foot ground floor. The second and third floors, both of which measure 8,060 square feet, are also available, a Winick spokesperson said.

The building has been owned by the same corporation since 1982, records show.