In a transaction arranged by Savitt Partners, international clothier Caruso Menswear has inked a 1,855 s/flease for its first New York City showroom at 501 Madison Avenue.
The Savitt Partners team of Alicia Parente and Roger Mazzeo represented the fashion company in the lease negotiations.
Founded in 1958 by Raffaele Caruso in Soragna, Italy, Caruso Menswear specializes in tailored suits, jackets, pants and overcoats. The company will house showrooms and offices on the 27th floor of the 173,500 s/f, Class A office property located on Madison Avenue on the corner of 52nd Street. The asking rent for space in the property is $85psf.
“As the fashion company’s first New York showroom, the space had to not only meet its real estate requirements, but also represent the luxury of the brand,” said Parente.
“The 27th floor at 501 Madison Avenue provided our client with a full floor presence and a large terrace with beautiful city views.”
Timothy Pond and Alexander Jinishina of Colliers, represented the building ownership, KWR Realty Advisors in the negotiations.