Alterman of RKF secures 4,600 s/f lease

RKF has arranged a 4,600 s/f lease for American menswear brand Joseph Abboud at 424 Madison Ave. in Midtown East. Located on the southwest corner of Madison Ave. and 49th St., this will be the brand's first flagship store in the U.S. Scheduled to open in the first quarter of this year, Joseph Abboud will occupy the ground floor of the 65,000 s/f property and will carry an assortment of suits, sportswear, knitwear, outerwear, shoes and accessories. The new location will give men the opportunity to shop the brand for the first time outside of department and specialty stores. RKF executive VP Gary Alterman represented Joseph Abboud in the long-term lease, while Cory Zelnik of the Zelnik & Co. represented the owner of 424 Madison Ave., BLDG Management Co., Inc. According to Alterman, Joseph Abboud is one of several prominent menswear tenants on the Avenue today. It will share the block with neighboring co-tenants such as Burberry, Brooks Brothers, Charles Tyrwhitt, Men's Wearhouse, The Art of Shaving and Jos. A. Bank. "Madison Ave. in the East 40s and 50s is known for having a strong cluster of menswear retailers, and Joseph Abboud is a perfect fit," Alterman said. "This location is surrounded by quality retailers and will be vital to growing the brand's presence and attracting new customers." Joseph Abboud's designs are manufactured at the company's factory in New Bedford, MA and are currently sold at high-end department stores such as Nordstrom and Bloomingdale's. The brand also operates an exclusive label with retailer Men's Wearhouse at more than 1,100 stores across the country.