Exclusive shopping club Suite 1521 has signed a 4,000-square-foot lease at RFR’s 980 Madison Avenue on the Upper East Side.
The company, owned by Kim Kassel and Lizzie Tisch, will occupy showroom space on part of the 3rd floor and received exterior building signage.
“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,” Ms. Tisch said, in a statement.
The owners have described the store/club as “part trunk show, part in-person flash sale.” Members will pay $500 annually for private shopping events hosted roughly two days a week, with designers in attendance, and events accessed through a website that will go live in September with the store’s grand opening.
“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,” Ms. Kassel said, in a statement.
The annually dues in part pay for the exclusivity of the pieces.
“Our target is someone who doesn’t want to walk into a cocktail party and see [someone else] in the same dress that she’s just paid $4,000 for,” Ms. Tisch told Women’s Wear Daily.
Cushman & Wakefield’s Jared Horowitz represented Suite 1521 in the transaction and Oliver Katcher represented RFR 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,” Mr. Horowitz, who was not available for additional comment, said in a statement. “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.”
Mr. Katcher did not immediately return calls seeking comment.
Some of the early events planned include Rodarte, Jonathan Saunders, Wes Gordon and Edie Parker.