Manhattan, NY The Feil Org. has completed the releasing of the retail arcade at 488 Madison Ave., signing Mephisto Shoes to 1,854 s/f and Mighty Bowl to 800 s/f. Both are expected to open in the fall. The leases total 2,654 s/f.
Indochino, Bonobos Guideshops, UNTUCKit, City Hats, and Jack Erwin have all opened at the 51st to 52nd St. blockfront building in the past two years after a renovation and releasing program. The Feil in-house leasing team, comprised of Randall Briskin, vice president of leasing and Nicholas Forelli, director of leasing, saw an opportunity to build on the success of Bonobos and UNTUCKit to create a new retail vision on Madison Ave. The new retailers joined long-term tenant H.L. Purdy Opticians at the building.
“The success of this program was our desire to remerchandise the property with well-established tenants, clicks-to-bricks merchants, and up-and-coming new specialty retailers that have been showing promise as the ‘go to’ merchants of the next generation of retail,” said Brian Feil, vice president of leasing at Feil. “Our leasing team recognized this opportunity and was able to bring it to fruition.”
Known around the world for its quality and comfort, the France-based Mephisto Shoes will complete the storefront space along Madison Ave. Mighty Bowl, to be located off the Ave. on West 51st St., offers carefully crafted Asian-inspired cuisine available for pickup or delivery. The eatery will service a business area that includes Rockefeller Center, the Plaza District, and visitors to nearby St. Patrick’s Cathedral.
“Both new retailers are ideal for an area that not only draws thousands of office employees daily, but millions of visitors from around the world,” said Feil.
Once known as the “Look Building” for the defunct magazine, 488 Madison Ave. comprises 447,000 s/f over 23 stories. Feil completed a renovation of the landmarked 1948 modernist building in 2016, repositioning the ground floor for a complete block of retail focused on menswear.
The tenant representatives were as follows:
• In the Mephisto Shoes deal, Amira Yunis and Tienn Wine of CBRE | Retail Services Group represented the tenant.
• In the Mighty Bowl deal, Jack Khaski, Jordan Raphan and Albert Manopla of KSR | Retail represented the tenant.