Real Estate Weekly
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Massey Knakal marketing prime Madison Ave. space

Massey Knakal Realty Services has been retained on an exclusive basis by Carlyle House, Inc. to assist with the leasing of their Madison Avenue retail space between East 76th and East 77th Streets.

Ownership is considering all options, including master lease and direct lease. CEO Paul J. Massey, Jr., Thomas D. Gammino, Jr., and Jill Lovatt are exclusively handling this assignment.

“This location is one of the premier retail locations in all of New York City and we are excited to assist ownership in finding the perfect opportunity for the space,” said Massey Knakal CEO Paul J. Massey, Jr.

The offers more than 7,000 s/f of prime Madison exposure

The space, which is currently master leased to The Carlyle, consists of 6,956 s/f on the first and second floors, plus an additional 593 s/f of cellar space.

It is currently subdivided into five stores, but could be combined. It boasts 132 ft. of Madison Avenue frontage. The entire space will be delivered vacant upon expiration of the master lease on April 30, 2016.

Madison Avenue and the surrounding area is North America’s premier luxury shopping district. It features the flagship boutiques of the finest international designers, over 100 world-class galleries, exquisite restaurants, dozens of spas and salons for exclusive pampering, and renowned hotels and museums.

“A testament to the robust nature of Madison Avenue, this vibrant corridor has experienced a recent transformation of the brownstones adjacent to the Whitney, with a significant amount of new store openings – 30 in 2013 and 11 in the first half of 2014. Rents for the diverse retail mix have soared to record levels. Those seeking prime sites on Madison Avenue include retailers from around the globe,” said Lovatt.

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