Leases  ·  Retail

Furniture Company Boffi | DePadova Opening 20K-SF Nomad Showroom

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Italian furniture company Boffi | DePadova plans to open a 19,964-square-foot showroom at Windsor Management’s 99 Madison Avenue, Commercial Observer has learned.

The retailer signed a 15-year lease for the ground floor, second floor and mezzanine of the 17-story building between East 29th and 30th streets, according to Cushman & Wakefield (CWK), which brokered both sides of the deal. The building sits three blocks north of Madison Square Park.

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Asking rents were around $225 per square foot for the ground floor, about $65 per square foot for the second floor and $40 per square foot for the mezzanine. The showroom is set to open in the second quarter of 2024.

The company designs furniture, kitchen and room partitions.

C&W’s Andrew Kahn, Fanny Fan and Adrienne Gallus negotiated the deal on behalf of both the landlord and tenant.

“At Boffi | DePadova, we are always looking for the most important locations across the globe to set our design showrooms and display the architectural interior solutions we are renowned for,” Boffi | DePadova CEO Roberto Gavazzi said in a statement. “With this new, majestic ambiance at 99 Madison, we’ve once again strengthened our corporate strategy that is committed to the coexistence of different realities and languages in a living solution that’s becoming more and more internationally recognizable.”

Windsor is currently putting the fully leased building through a capital improvement project that will provide tenants with a new lobby, an updated facade and floor-to-ceiling windows for Boffi | DePadova, according to C&W.

Mark Hallum can be reached at mhallum@commercialobserver.com.