Two Women’s Clothing Retailers Take Space at 980 Madison Avenue
By Celia Young February 9, 2023 4:44 pm
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980 Madison Avenue might be the best-dressed property on the Upper East Side.
Two women’s clothing retailers, Veronica Beard and Tanya Taylor, inked long-term deals for storefronts at the building between East 76th and East 77th streets, The New York Post first reported. Asking rents were $775 per square foot in both leases.
In the larger of the two deals, Veronica Beard renewed and expanded its 2,000-square-foot New York City flagship to 3,300 square feet, according to Retail by Mona, which brokered the deal for landlord RFR Holdings. Retail by Mona declined to comment on the length of either lease.
The women’s clothing retailer, which first moved into 980 Madison Avenue in 2016, took the extra ground floor and lower-level space from Parisian clothing brand Sandro after it left the building at the end of last year, according to Retail by Mona and Fashion Network.
Veronica Beard sports two other New York City outposts, at 78 Green Street in SoHo and 26 West 17th Street in the Flatiron District, and wanted to grow its Upper East Side space to prioritize in-person shoppers, said Retail by Mona Suzanne Bernstock, who brokered both deals for RFR with colleagues Brandon Singer, Michael Cody and Max Kreinces.
“[Veronica Beard was] early to understand the importance of brick and mortar in a post-COVID landscape,” Bernstock said in a statement. “Their expanded footprint highlights the importance of brick and mortar to brands’ customer engagement strategy.”
It was not immediately clear who brokered the deal for Veronica Beard. The retailer did not immediately respond to a request for comment.
In the other deal, Tanya Taylor inked a lease to open its first physical store in 2,838 square feet across the ground and lower levels of the six-story 980 Madison, taking over from Douglas Elliman Real Estate, which left to look for a new space on the Upper East Side, according to Retail by Mona.
The Canadian fashion designer — known for her hand-painted prints and clothes worn by Michelle Obama, Taylor Swift and Lady Gaga — plans to open in the spring.
With Veronica Beard in the same building, the location was a perfect fit for Tanya Taylor to grow its customer base, said Singer.
“This location will provide Tanya with unparalleled brand recognition from the building itself and from the many women retail stores on the avenue,” Singer said in a statement. “Madison Avenue is undoubtedly the hub for women’s contemporary fashion brands.”
Newmark (NMRK)’s Karen Bellantoni and Jackie Totolo handled the deal for Tanya Taylor. A spokesperson for Newmark did not immediately respond to a request for comment.
Celia Young can be reached at cyoung@commercialobserver.com.
