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DKNY renews lease for Madison flagship.

Colliers International has announced the early renewal for women's retailer DKNY at its flagship store located at 655 Madison Avenue.

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The long-term, 17,776 s/f lease ensures that DKNY will continue its prominence in the heart of the Madison Avenue shopping district through at least 2024.

Andrew H. Roos and Michael T. Cohen of Colliers International represented the building ownership, Plaza Associates, LLC in the transaction. Principals Laura Pomerantz and John Brod of PBS Real Estate represented DKNY.

As a luxury brand of Louis Vuitton Moet Hennessey, DKNY provides women's fashion and accessories.

655 Madison recently underwent a comprehensive renovation, featuring a granite and glass facade, new lobby, and new elevator cabs and mechanical systems.

"DKNY is an iconic brand and member of the prestigious LVMH family," Roos said. "We are absolutely delighted that they decided to keep their flagship store at 655 Madison Avenue and will make a significant investment to enhance the shopping experience for their customers."

"With the recent influx of contemporary designer brands coming to Madison Avenue, DKNY is well-positioned to benefit from this latest incarnation of a classic luxury shopping destination," Pomerantz said.

Brod continued, "655 Madison's sleek glass facade and expansive multi-level interior are the perfect reflection of DKNY's fashion-forward brand identity. It remains the ideal flagship location."

Located at the southwest corner of 60th Street, 655 Madison Avenue is a 230-932 s/f commercial building.

Other retail tenants in the building include Orianne Collins Jewelry, Anya-Hindmarch, of London, and Jones New York, which is in the process of opening its first U.S. location for the company's Brian Atwood division.

Office tenants include Lowes Corporation's corporate headquarters, Este Lauder and various financial services firms.
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Publication:Real Estate Weekly
Date:May 16, 2012
Words:284
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