Fine Minerals International will open its first store, Mardani, at 766 Madison Avenue between East 65th and East 66th Streets, Commercial Observer has learned.
On Oct. 8, the mineral dealing company signed an 8.6-year lease for 1,200 square feet at the five-floor property. The asking rent was $1,500 per square foot.
The Corcoran Group’s David Graff represented the sub-landlord, Zhongyin Apparel, in negotiations. Cushman & Wakefield’s Steven Soutendijk represented Mardani.
“It is a great opportunity for Fine Minerals – Madison Avenue is the ideal area to display and sell their product to a larger audience, which previously had only been available to private collectors, and this is one of the best blocks on the street,” said Mr. Soutendijk.
The space, owned by 766 Madison Ave Realty Corp., was previously occupied by Todd & Duncan fine cashmere. According to a spokeswoman for Corcoran, the space will double as an art gallery and living space to show how minerals can be displayed in an office or at home.
“We are excited to share the awe and beauty of nature’s art with a broader audience in a prime location in New York City,” said Fine Minerals International owner Daniel Trinchillo in prepared remarks.
The Madison Avenue building is 100 percent occupied. Other tenants include Danvie Salon, Nelson Ferri Tailor, Noe Rodriguez Tailor and Academic Approach.