Golden Goose Opening New NYC Flagship on Madison Avenue [Updated]
By Terence Cullen December 12, 2016 1:38 pm
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Golden Goose Deluxe Brand, the Italian clothing company for men and women, has inked a 2,000-square-foot deal for a new store at 935 Madison Avenue.
The Upper East Side shop between East 74th and East 75th Streets will serve as the brand’s New York City flagship location, according to a press release provided by the tenant’s broker Thor Retail Advisors. Golden Goose, which is headquartered in Venice, Italy, is slated to open in the second quarter of 2017, taking 1,200 square feet on the ground floor and the remaining 800 square feet on the lower level.
“Madison Avenue in the mid-70s has been evolving as a premier retail destination, creating the ideal location for Golden Goose’s new flagship store across from Apple, adjacent to The Met Breuer, and surrounded by exciting retailers like Acne, Aquazzura and Moynat,” Thor Retail Advisor’s Dan Harroch, who represented the tenant, said in prepared remarks.
Indeed, other high-end retailers have flocked to this stretch of Madison Avenue between East 57th and East 72nd Streets—where the average ground-floor asking rent was $1,433 per square foot as of November, according to the most-recent data from the Real Estate Board of New York.
In May, designer Stella McCartney closed on a deal to occupy 5,400 square feet at 929 Madison Avenue between East 73rd and East 74th Streets, as Commercial Observer reported at the time. The London-based womenswear company will occupy four levels at the Upper East Side property.
Golden Goose’s lease is for 10 years, according to Thor, and the deal had a $1,000 per square foot asking rent. Along with this location, the company has a store in Soho at 468 Broome Street. It also recently signed deals in Los Angeles and China, according to Women’s Wear Daily, which first reported news of the deal.
Ariel Schuster and Jackie Totolo of RKF represented the landlord, only listed as an LLC, along with Joel Isaacs and Josh Lewin of Isaacs and Company.
“935 Madison is one of the most exciting retail opportunities on the Upper East Side,” Totolo said in statement via a spokeswoman. “The entire building has been rebuilt inside and out, offering unparalleled opportunities for luxury brands.
Added Isaacs in an email: “Golden Goose chose 935 Madison Avenue as it is the best physical product available today with 18 foot ceilings on grade and the potential for a selling lower level as well as historic façade clad in copper.”
Update: This story was edited to include a quote from the landlord’s brokers.
