NEW YORK — The new home of Club Monaco’s flagship is 37 West 57th Street, but it might be just a stopover while the chain searches for more permanent digs.
This story first appeared in the July 31, 2002 issue of WWD. Subscribe Today.
The site was the former home of the defunct chain Cosmetics Plus. As reported, the Club Monaco flagship was housed in the St. Regis Hotel at 699 Fifth Avenue and 55th Street, but the site was sold to Boucheron, a unit of Gucci Group.
Faith Hope Consolo of Garrick-Aug Associates represented the landlord in the transaction. According to Consolo, Club Monaco is set to open the doors to its new home “in the next couple of days.”
Club Monaco officials declined comment.
The new space totals 3,500 square feet comprising three levels, ground, mezzanine and basement. At the St. Regis, Club Monaco occupied 12,000 square feet, but that also included two floors of office space, Consolo said.
While retail rents begin at $750 a square foot along Fifth Avenue and run higher for the best locations, the amounts along West 57th Street plateau at between $200 and $250 a square foot, the broker added.
“We’ll see how it works out. Club Monaco, like Gucci and Burberry, signed a short-term lease for a year,” Consolo reported.
Gucci had occupied 12 West 57th Street, the former Henri Bendel location, while its Fifth Avenue flagship was undergoing renovations. The same site is now host to Burberry, while its store on East 57th Street is being renovated. Burberry is expected to remain at the 12 West 57th Street location until Spring 2003.