Garrick-Aug Worldwide agent for 55,000 SF Cartier lease renewal.

In 1996, the leasing team of Faith Hope Consolo and Joseph Aquino, of Garrick-Aug Worldwide, Ltd., exclusively represented Cartier, Inc. in renewing the lease for their world flagship store, with the owner, The Alexander S. Onassis Public Benefit Foundation. The Cartier store is located at 653 Fifth Ave., on the southeast corner of 52nd St. The long-term lease renewal is for approximately 55,000 SF of retail space.

Consolo, vice chairman of Garrick-Aug, stated, "Louis Francois Cartier, a master jeweler, took over the workshop of Maitre Adolph Picard in Paris, in 1847. In 1853, Cartier opened to private clientele. In 1859, Empress Eugenie became a customer."

Over the next generations, as the Cartier business passed from father to son, shops were established all over the world to accommodate its international patronage -- admirers of the Cartier jewelry, watches, and accessories. Cartier's clientele has included the roylaty of England, Portugal, Siam, Belgium, Egypt, and Russia, as well as Hollywood royalty. In 1972, Cartier was purchased by investors and in 1993, Cartier joined the Vendome Group.

Aquino states, "Everyone knows the legend of how the Morton F. Plant mansion at 653 Fifth Ave. was acquired by Cartier in exchange for a two-tier pearl necklace. However, five years ago, there was a question as to whether Cartier would stay in the beautiful mansion where they had been for over 75 years or have to go somewhere else."

The Onassis Foundation, the present landlord, had several other offers from competing entertainment groups for the site and it wasn't going to compromise dollars for luxury. Cartier had at least three other back up locations up and was ready to go in case negotiations fell apart. Fortunately, though it involved hard work and involved international travel, Garrick-Aug was able to keep Cartier at its present location.