News: Shopping Centers

Consolo and Aquino of Prudential Douglas Elliman arrange 540 s/f for Elijah Peters Optique flagship

The leasing and sales team of Faith Hope Consolo, chairman, and Joseph Aquino, executive vice president of Prudential Douglas Elliman's Retail Group has orchestrated a 10-year, 540 s/f lease for Elijah Peters Optique at 1039 Third Ave., between 61st and 62nd St. The boutique will carry a collection of luxury brand frames, such as Gucci, Chanel, Dior, Gianni Versace and Michael Kors. The new location, which represents the Elijah Peters Optique's first U.S. flagship, is on an eight-store block-front represented exclusively by Consolo and Aquino, who also arranged the leases there for Arche, Kusmi Tea and Variazioni. In addition, the team has been responsible for dozens of deals in the area, such as Thierry Rabotin, Auffrance Fine Furniture, Caché, Patisserie Financier and Bare Escentuals. "Elijah Peters Optique will be a fashion addition to the retail mix on the block," said Consolo. "Beyond the gorgeous glasses, their TruFocals collection will provide much needed special eye-care services for people throughout the city." According to Aquino, "Our goal was to reposition this entire block as a shopping destination. In little over a year, we have successfully turned it into a virtual extension of the Bloomingdale's shopping corridor with a wide variety of retail and non-stop foot traffic." Consolo and Aquino represented both the landlord and tenant in the transaction.
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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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