Bag Store Bottega Veneta Bags New Lease on UES
Bottega Veneta, the Italian luxury goods retailer, has leased 24,000 square feet, spanning five floors in three landmarked townhouses, on the Upper East Side, The Wall Street Journal reported.
The townhouses, at 740 Madison Avenue and 23 and 25 East 64th Street, are owned by the Wildenstein family and the landlord will create new store space for Bottega Veneta, which is owned by French multinational group Kering.
“The goal is to build upon [this project] and start investing more heavily into real estate, building more heavily a presence in real estate for the family,” David Wildenstein of Wildenstein Realty Corp. told the Journal.
Cushman & Wakefield‘s Jim Downey, Eric Le Goff and Sarah Mohr Fabian represented the tenant in the deal. C&W John S. Gray and Frank Liantonio along with Mr. Wildenstein represented the Wildenstein family, a C&W spokesman said.
This transaction represents one of the largest transactions ever completed on Madison Avenue, C&W said in a release.
Bottega Veneta will occupy space adjacent to Wildenstein & Co.’s gallery and headquarters at 19 East 64th Street.
The asking rent and length of lease weren’t immediately available.