News: Shopping Centers

Consolo and Aquino of Pru. Douglas Elliman coordinate lease expansion

The leasing team of Faith Hope Consolo, chairman, and Joseph Aquino, executive vice president, of Prudential Douglas Elliman's Retail Leasing and Sales Division, exclusively represented the landlord and tenant in the expansion of legendary British scent and artisan gifts purveyor Penhaligon's U.S. flagship. The store, located along Madison Ave.'s Gold Coast at 870 Madison Ave., is the label's sole location in the U.S. Having been situated at a desirable location between 70th and 71st Streets for eight years, the brand plans to enhance its visibility by renovating and expanding. The shop will revitalize its already chic décor to match its uniquely designed fragrance bottles and array of gifts. "This Gold Coast thoroughfare is a veritable shopper's haven and home to well-to-do, discriminating singles and families, so it is wise for Penhaligon's to remain in this dominant location. Also, the store's unique façade makes it look like a freestanding townhouse in the middle of Madison Ave.," said Consolo.
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2024 Year in Review: William O’Brien, M.C. O’Brien, Inc.

What noteworthy transactions or deals from this year best exemplified key market trends or shifts? I would like to say there was an outstanding transaction for me this past year but 2024 was more a culmination of long-term relationships, most of which continued to transact. Deals were smaller in many cases but we saw robust leasing both on the agency side as well as on the tenant side.

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