Leases  ·  Retail

Luxury Retailer Maison Goyard Relocating NYC Store to Madison Avenue

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French luxury leather goods brand Maison Goyard is moving its New York City outpost to 9,000 square feet at 699 Madison Avenue, according to its broker Retail by MONA.

The new shop will serve as both office and retail space for Goyard and give the brand exposure to shoppers at nearby luxury stores such as Hermès at 706 Madison Avenue and Van Cleef & Arpels at 690 Madison, Retail by Mona said. 

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The 10-year lease will also be an expansion from its current location half a block away at 20 East 63rd Street, but it’s unclear how much space Goyard has on East 63rd Street.

“Goyard’s new store will open on the most sought-after block on Madison Avenue in 2025,” Retail by Mona’s Eric Le Goff, who represented the tenant alongside Brandon Singer, said in a statement.

Retail by Mona did not disclose the asking rent, but a recent CBRE report found the average retail asking rent in Manhattan was $688 per square foot in the first quarter of 2024.

Property records show the building, on Madison Avenue between East 62 and East 63rd streets, is owned by Joan Gould. It’s unclear if it’s part of the estate of the well-known author by the same name who died in 2022.

Retail by Mona did not provide the names of landlord brokers.

The maker of fine trunks, handbags and other leather goods was founded in Paris in 1853 by Francois Goyard. Its New York City location is one of only six in the United States. It also has outposts in London, Milan and Sao Paulo.

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