Dolce & Gabbana Leases 23K SF at 695 Madison Avenue
Dolce & Gabbana will be filling the void left by Hermès at the Propp family-owned 695 Madison Avenue on the Upper East Side.
The Italian luxury brand signed a deal for 23,000 square feet in the low-rise retail building, which spans a total of 30,000 square feet, The Real Deal reported.
Details on the deal — such as the asking rent, the length of the lease and the names of tenant brokers — are sparse, but Hermès vacated the building for a new flagship across the street at 706 Madison Avenue at the end of 2022.
The fashion designer currently has a 18,400-square-foot flagship at 717 Fifth Avenue which it leased from Jeff Sutton and SL Green Realty in a 15-year deal signed in 2011, Commercial Observer reported at the time.
It’s not clear whether the existing flagship or any of the brand’s other locations will close as this new four-story location opens. Floor plates in the new space range from 4,200 to 5,000 square feet.
Mark Hallum can be reached at firstname.lastname@example.org.
Update: this story has been updated to reflect that the building is owned by the Propp family instead of specifically Tahl Propp Equities.