Cushman & Wakefield represented Suite 1521, a new shopping concept slated to open in September, in a 4,000 s/f lease at 980 Madison Avenue, located on the Upper East Side and stretching the full block between 76th and 77th Streets.
Suite 1521, which is owned by Kim Kassel and Lizzie Tisch, is part trunk show, part in-person flash sale, and will be exclusive to a membership club with annual dues of $500.
The company will occupy showroom space on part of the 3rd floor in the low-rise commercial office and retail building owned by RFR Realty. In addition, Suite 1521 received exterior building signage, which will provide prominent branding for the company.
Suite 1521 will host collections in private shopping “events,” with the designer in attendance. Members of the Suite 1521 club will access the calendar of events and register via a website that will go live in September.
“The modern look of the space at 980 Madison Avenue coupled with its Upper East Side location and the opportunity for exterior signage made this an ideal fit,” said Tisch.
“We’re thrilled that we found a home for Suite 1521 and look forward to serving our clients with this new way to experience shopping, while offering the perfect platform for the next great designers,” said Kassel.
Cushman & Wakefield’s Jared Horowitz, executive director, represented Suite 1521 in the transaction. Oliver Katcher represented RFR Realty in-house.
“980 Madison Avenue offered Suite 1521 a location that’s ideal for the company’s future clientele, a modernized, clean space that’s ready to move-in, and the opportunity for prominent exterior signage,” said Horowitz. “It’s a high-quality showroom space in a highly desirable location in Manhattan, which is very hard to come by in today’s market.”