In a transaction arranged by CBRE, footwear company Mephisto signed a 1,854 s/f retail lease at 488 Madison Avenue in Midtown.
Recognized for its shoes handmade in France, Mephisto joins other retailers at the Madison Avenue property, including Indochino, Bonobos and UNTUCKit.
CBRE’s Amira Yunis, Anthony Stanford and Elliot Ferris represented Mephisto in the 10-year deal. The building ownership, The Feil Organization was represented in-house by Randall Briskin. The asking rent was $400 psf.
“Mephisto wanted to be located in Midtown Manhattan, close to Rockefeller Center and near other high-end retailers in order to capitalize on the tremendous amount of foot traffic in the area,” said Yunis. “The retail space at 488 Madison Avenue offers a great amount of frontage and also benefits from hands-on management by the Feil Organization.”
Mephisto has over 800 locations in 86 countries; 488 Madison is its third NYC store.