Mattress Company Avocado Inks 12K-SF Deal for Entirety of 942 Third Avenue

Avocado Green Mattress, a California-based mattress company specializing in eco-friendly and nontoxic mattresses, has leased the entire five-story, 12,000-square-foot retail townhouse at 942 Third Avenue for a new vertical flagship, Commercial Observer has learned.

The asking rent was $750,000 per year for the new deal in Midtown East, an area known for its design and furniture brands. The neighborhood is anchored by the nearby Decoration & Design Building and Architects & Designers Building.

Previously, 942 Third Avenue, a highly visible site that sits between East 56th and East 57th streets, was occupied by Modani Furniture.

Since the building is not landmarked, it provides an opportunity for expansive branding and signage for Avocado, which will also have the use of the building’s basement space.

The length of the new deal was unclear. Avocado was represented by Alex Yanoff of Brand Urban and Tess Jacoby of Rue, while Retail by MONA’s Brandon L. Singer, Sunny Woo and Jason Lloyd represented the building ownership, Naomi and Andre Altholz.

“This transaction reflects a broader shift in how brands are thinking about physical space,” said Singer, founder and CEO of Retail by MONA. “Avocado recognized the opportunity to create a vertically integrated flagship that goes beyond traditional retail and serves as an immersive brand environment.”

Founded in 2016, the mattress company prides itself on having multiple organic certifications and uses only naturally sourced materials. It already has brand outposts in Manhattan’s Flatiron District at 135 Fifth Avenue and in Williamsburg, Brooklyn, at 57 North Sixth Street. The mattresses are also sold through other furniture retailers.