NEW YORK CITY – Colliers International has expanded the luxury retail presence at 655 Madison Avenue in the heart of the East Side shopping district with the addition of Kara Ross. The women’s designer handbag and accessories retailer has signed a long term lease and will open its flagship location on the ground floor of the building.
Colliers International Tri-State Vice Chairman Andrew H. Roos and President Michael T. Cohen represented the building ownership, Plaza Associates, LLC, in the transaction.
Kara Ross will open its 600-square-foot location in the fall, pending build-out of the space. The high-profile boutique retail store will be located on East 60th Street just off Madison Avenue. Other luxury retail brands with flagship stores at 655 Madison Avenue include DKNY; Jones New York, which recently opened its first U.S. location for the company’s Brian Atwood division; and Schutz, owned by fashion designer Alexandrea Biermann.
In addition, with Philippe Chow and other in-demand restaurants, East 60th Street between Madison Avenue and Park Avenue is one of the most heavily trafficked side streets in the neighborhood.
“We had numerous offers for the retail space at 655 Madison Avenue but considered Kara Ross a special opportunity,” Roos said. “Her work is so well regarded, and her brand perfectly complements the other international designer flagship stores in our building.”
Just steps from Central Park and centrally located to Manhattan’s finest luxury hotels, dining and shopping, 655 Madison recently underwent a comprehensive renovation, featuring an elegant granite and glass facade, new lobby, and new elevator cabs and mechanical systems.
Located at the southwest corner of 60th Street, 655 Madison Avenue is a 230,932-square-foot commercial building with convenient access to the 4, 5, 6, F, N, R and W subway lines and several Madison Avenue bus lines. Office tenants in the building include Lowes Corporation’s corporate headquarters, Estee Lauder, and various financial services firms.
Laura Pomerantz, of Pomerantz Real Estate LLC, represented Kara Ross in the transaction.
Colliers International is a global leader in commercial real estate services, with over 13,500 professionals operating out of more than 482 offices in 62 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.
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