–Activity Reinforces Strength of Madison Avenue Retail Market–
NEW YORK, NY – January 28, 2013 – (RealEstateRama) — RKF has completed the leasing assignment at the base of The Mark Hotel at 992-998 Madison Avenue on behalf of ownership Alexico Group. All of the hotel’s ground floor retail space, which is located on Madison Avenue and 77th Street, is now leased.
RKF was responsible for leases with Zadig et Voltaire, Jack Vartanian, Punto Ottico, Phoenix Roze and, more recently, 25 Park. These tenants joined Frederic Fekkai Salon, The Mark Restaurant by Jean-Georges, John Lobb and Sant Ambroeus at this high-profile property.
“We will continue to see strong demand here as retailers recognize that the affluent Upper East Side demographic wants more fashion retail options in their backyard,” said RKF Managing Director Beth Rosen, who with Sal Ferrigno was a member of the leasing team that represented the landlord. “This certainly explains why international designers and brands are opening stores on Madison Avenue in the Seventies either in addition to (or instead of) opening them in major NYC shopping districts such as SoHo and the Meatpacking District.”
“We are extremely pleased to host such high-profile retailers like Zadig et Voltaire, Frederic Fekkai, John Lobb and Jack Vartanian, as well as the Michelin Star restaurateur Jean-Georges at The Mark,” said Niso Bahar of Alexico Group.
Housed within a 1927-era landmark building on Manhattan’s Upper East Side, The Mark Hotel has recently been completely reimagined. In addition to its ultra-chic hotel suites, the building also houses beautifully appointed residential units designed by Jacques Grange.
The country’s leading independent real estate firm specializing in retail leasing, investment sales and consulting services, RKF serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and disposition. With approximately $20 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Chicago, Las Vegas, Los Angeles, Miami, Northern New Jersey and San Francisco.