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Brokers land two familiar tenants on Madison Ave.

If we go back in time 15 years, Gary and Rick Dana were involved in leasing stores on Madison Avenue to two classic tenants: Antiquarium, and Traum Safe.

Now, The Dana Commercial Team at Douglas Elliman is pleased to announce the signing of two new leases on Madison Avenue with two old friends: Antiquarium and Traum Safe.

Traum Safe has leased a 2000 sq. ft. store at 1078 Madison Avenue between 81 st and 82nd Street. The store boasts 20 foot ceilings and two partial mezzanines, with a very prominent frontage.

"It was exactly what we needed for our expanding business" said Sheela Murthy, President of Traum Safe, Inc. Traum protects your precious jewelry and watches with the finest safes in the world.

Antiquarium had been at 948 Madison Avenue for 15 years, and is a gallery specializing in fine ancient art. Robin Beningson, owner of Antiquarium, wanted to continue their tenancy of more than 20 years on Madison Avenue. The new space is a 1400 sq. ft. showroom located at 790 Madison Avenue and 67th Street. The Landlord in the new transaction is Campustar (USA) Inc, who has owned the building since the Dana Commercial Team arranged the sale to them in 1990.

The new lease is for 10 years, which will keep Antiquarium on Madison Avenue for many years to come. The fact that Elliman was able to lease space to both tenants on Madison Avenue helps to extend the tradition of keeping Madison Avenue a unique corridor of the finest retail tenants.

Gary Dana and Rick Dana of The Dana Commercial Team at Douglas Elliman represented both the Landlord and the Tenant in both transactions. Adam Kramer and Chris Dana of the Dana Commercial Team also assisted with the Traum Safe lease.

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Comment:Brokers land two familiar tenants on Madison Ave.
Publication:Real Estate Weekly
Date:Aug 3, 2016
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