Maglio, Shuster and Zisholtz of The Faith Consolo Team at Douglas Elliman complete 1,674 s/f retail lease; Corbett & Dullea reps tenant, Carmina

August 20, 2019 - Shopping Centers
Arthur Maglio,
Douglas Elliman

 

Corey Shuster,
Douglas Elliman

 

509 Madison Avenue - 
Manhattan, NY

 

Manhattan, NY Arthur Maglio, Corey Shuster and Diana Zisholtz of The Faith Consolo Team at Douglas Elliman arranged a lease for Carmina at 509 Madison Ave. on the southeast corner of Madison Ave. and 53rd St. The two-level retail store totals 1,674 s/f.

“The European flavor has always been important to this stretch of Madison Ave.,” said Shuster, co-head of The Faith Consolo Team. “Carmina symbolizes high design and craft and occupying a Madison Ave. address holds the allure of old-time glamour and elegance. As brands continue to be drawn to the lower reaches of Madison Ave., this location will provide an instant, international customer base – and what better spot to grow the brand’s presence Stateside than to choose this coveted corner in one of the most visited areas in New York City.”

The Faith Consolo Team represented the landlord and the tenant was represented by Corbett & Dullea.

Carmina, the Spanish shoemaker based on the island of Majorca, has secured their NYC flagship location. With a heritage in shoemaking tracing its roots as far back as 1866, the traditional, hand-crafted techniques have been passed down for six generations preserved by the Albaladejo family. The brand offers a range of ready-to-wear shoes for men and women, and has been expanding its physical footprint across the globe; after testing out the market adjacent to the entrance of the Roosevelt Hotel, Carmina has now made the decision to transition into establishing a flagship location thanks to its continued success. 

Standalone outposts also include Majorca, Paris, Barcelona, Bilbao, Madrid, St. Petersburg and Singapore.

The Madison Ave. shopping corridor is prized as a shopping destination, offering some of the best-known brands in the world. Surrounded by the most elite names of jewelry and fashion, nearby neighbors include Roger Dubuis, Rolex, Tourneau, Bremont, Thomas Pink, Reiss, IWC, Peter Millar, Robert Marc, Lacoste and Breitling.

509 Madison Ave. will be getting an architectural upgrade. The Midtown East office building will undergo a reinvigoration of its lobby and façade, elevating the building’s stature and acclaim. Renovations will also be made to the entrance of the 53rd St. Subway Station, which services over seven million riders annually. Ownership is taking the opportunity to rebrand an incredibly well-located asset all the while luring luxury retailers for a renewed vibrancy in the retail mix.

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