Luxury Menswear Brand Kiton Opening Three-Floor Madison Avenue Outpost
By Nicholas Rizzi November 29, 2021 4:41 pm
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Luxury menswear retailer Kiton plans to open a three-floor Madison Avenue outpost, brokers on the deal said.
Kiton signed a 10-year lease for 3,400 square feet spread across three floors of 692 Madison Avenue between East 62nd and East 63rd streets, landlord broker Marc Sitt of KSR said. Asking rent for the vacant retail space was $1.2 million per year.
The New York Post first reported news of the deal.
Italy-based Kiton currently has a New York City outpost nearby at 4 East 54th Street and plans to open its new location in the summer, Sitt said.
“This deal is a true testament of luxury retail in New York City,” Sitt said in a statement. “With Hermès’ opening their new flagship store a few doors down [at 702 Madison Avenue], this corridor will be more vibrant than it was in previous years.”
Sitt brokered the deal for the landlord, the Ezair family, along with KSR’s Dorel Melloul. Cushman & Wakefield’s Alan Wildes and Ian Lerner represented the tenant along with Kiton’s lawyer, Massimo D’Angelo. A spokesperson for C&W declined to comment.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
