Global real estate services firm Cushman & Wakefield said today it arranged a 10-year, 3,000-square-foot lease for Reformation, a sustainable women’s fashion brand, at 1055 Madison Avenue in Manhattan’s Upper East Side neighborhood. The new space will be Reformation’s fourth New York brick-and-mortar store.
Located one block from Central Park and the Metropolitan Museum of Art, its brick-and-mortar unit will be situated among trendy stores and eateries such as Pinko, EAT Café, Lululemon and J. Crew. Reformation will occupy a portion of the space — Cushman & Wakefield have two remaining availabilities at the property, including a “jewel box corner” of 1,000 square feet and an in-line space at approximately 4,000 square feet. The lease was arranged by Cushman & Wakefield’s Ian Lerner and Aylin Gucalp, who represented the landlord; Status Capital in the transaction, and Michael Yadgard of Maxwelle NY represented Reformation, according to the firms.
Reformation is planning to incorporate their experiential “store elements,” including touch screens that send apparel directly to dressing rooms; digital fitting room “attendees” for ordering additional styles or sizes, and “magic wardrobes,” or two-way doors, that allow for product fulfillment without leaving fitting rooms.
Lerner told WWD, “1055 Madison Avenue offers rare availability in a strong upper Madison Avenue market. The tenant will benefit from the prime location, as well as flexible configurations and upcoming redevelopment of the storefront.” Lerner added, “Reformation will [also] benefit from [this] prime location, as well as flexible configurations, high ceilings and the upcoming redevelopment of the storefront. Going forward, we’ll be offering the only small-corner opportunity north of 72nd Street with over 60’ of frontage and another 4,000-square-foot piece with double-height windows and skylight.”
Gucalp said “Over the last two years, this area has seen an influx of New York City or uptown flagship openings including Pinko, a deal we completed on behalf of David Frankel Realty. Additionally, L’Agence, Gabriela Hearst and Atelier Cologne have all committed to the area and will open later this year. It’s a unique location at the crossroads of high street and neighborhood retail — pulling traffic from the museums, Central Park and the surrounding Upper East Side neighborhood.”
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