Sunday, January 31, 2010

Madison Avenue Real Estate

Madison Avenue is one of the very few commercial blocks in Manhattan where many stores aren't open on Sunday. Sunday evenings happen to be especially quiet. That's why we were surprised to see such action at Giorgio of Palm Beach, where an overnight move was taking place.

The Palm Beach-headquartered men's store has been occupying the old Krizia store, on Madison at 66th Street. At the present time, the new Giorgio store looks like it is more fitting for a sample sale than a place that sells hand-made yellow and aqua men's suits for several thousand dollars. The new location, on the South/West corner of Madison at 59th Street, has exposed ceilings and warehouse lighting. Seems peculiar, huh?



Over at the old Krizia/Giorgio location, we hear that the J. Crew is opening it's first brick-and-mortar weddings and parties concept. Brokers say the space has 1,850 feet on the ground, a 1,200-foot basement and the asking rent was $900 a foot based on the ground floor.

Further up the Avenue, we noticed that the orange plywood has been removed from the much anticipated and long-waited Herme's men's store. Selectism reports the boutique will officially open February 9th. It will be the first Hermes store solely dedicated to men.

Plywood has also been removed from the the new concept, In & Out Beauty. The Switzerland-based company currently has stores in the Middle East and specializes in beauty products that focus on basic skincare, anti-aging supplements and "slimming" treatments. We anticipate that the store's opening will coincide with Fashion Week.

The fancy children's store, Bambini, has become another victim of the economic downturn. The European-like boutique closed at the end of the year. We hear that the space will be taken over by the fancy children's brand, Mona Lisa, which partnered with Spring Flowers at their location on Third Avenue.

3 comments:

Anonymous said...

That store location is strange. I doubt that it last past the summer

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