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Faith Hope Consolo and Joseph A. Aquino.

The leasing team of Faith Hope Consolo and Joseph A. Aquino of Garrick-Aug Associates Store Leasing, Inc. has been appointed exclusive agent for a 30,000 squarefoot blockfront of retail space on Madison Avenue, between East 27th and 28th Streets, near Madison Square Park.

The space, which is at 63 Madison Avenue, is divisible and offers 200 feet of frontage on the east side of the Avenue.

"This site is directly in the path of the $10 million dollar Madison Square Park Redevelopment project," says Ms. Consolo, vice chairman of Garrick-Aug. She notes that two Danny Meyer restaurants, Tabla and 11 Madison Park, already have a loyal, affluent lunch and evening trade and are established as neighborhood institutions.

It was Mr. Meyer who "almost single handedly ignited the appeal of the Flatiron District with his first restaurants more than a decade ago," adds Ms. Consolo.

She also points out that new and reopened hotels that are geared to the European marketplace -- such as The Giraffe, The Gershwin, The Carlton, and The Roger Williams - have introduced a new generation of young, international shoppers to the area.

"This is an excellent opportunity for a wide variety of retailers to accommodate an underserved eight- million-square-foot office population" observes Mr. Aquino, managing director of Garrick-Aug. "In addition to the arrival of several restaurants and art galleries, Fox Cable and Credit Suisse First Boston have joined Metropolitan Life and New York Life as major employers in the area.

"Only now is retail beginning to keep pace, which adds to the excitement of this redeveloping area," says Mr. Aquino.

Ms. Consolo states that, "emerging markets in Manhattan must have two qualities: location and affordability. The Madison Square Park Renaissance has both, and 63 Madison Avenue is in the very heart of it."

Founded a quarter-century ago, Manhattan-based Garrick-Aug Associates is the nation's largest brokerage specializing exclusively in retail leasing today. Operating throughout the U.S. and abroad, the company has been instrumental in brokering many of the most trendsetting retail leases in the metropolitan New York area.

Ms. Consolo started the Garrick-Aug Worldwide division in 1987. Headquartered in Paris, Garrick-Aug Worldwide works with prominent international retailers in identifying and securing the best locations for their U.S. stores and retail operations.
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Title Annotation:to manage lease of Madison Avenue retail space
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Jun 28, 2000
Words:375
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