Madison Equities, Building & Land Technology (BLT), and Thor Equities recently announced that Togas House of Textiles, the international luxury home textiles retailer, signed a lease to occupy 2,331 square feet at 212 Fifth Avenue, the landmarked 24-story luxury residential condominium building overlooking Madison Square Park.
This will be the U.S. flagship location for Togas, a leading global luxury brand known for high-quality fabrics and textiles for the home, featured in 177 boutiques internationally. Togas signed a 15-year lease to occupy the ground floor retail space, with move-in scheduled for fall 2017. This will be Togas’ second location in the country, following the opening of its first U.S. store last year in Greenwich, Connecticut. Togas plans to increase their presence in the United States as it competes with similar companies, such as Frette, and this flagship location was paramount in its expansion plan.
“We were very selective about bringing the right retail tenant to 212 Fifth Avenue, and Togas’ reputation for providing luxury, refinement and sophisticated style to homes and venues around the world is consistent with our vision for the property,” said Robert Gladstone, CEO of Madison Equities. “With 39 feet of frontage on Fifth Avenue, 212 Fifth Avenue offers a prime opportunity to establish a high-profile presence in one of Manhattan’s premier retail corridors. Located directly across from Madison Square Park, this is an incomparable location with proximity to world-class shopping and dining destinations in the heart of NoMad.”
Matthew Seigel and Skye Taylor of Thor Retail Advisors represented the landlord, a partnership of Madison Equities, BLT, and Thor Equities. Tatiana Pinhasi of Keller Williams NYC represented the tenant.
Located on the corner of 26th Street and Fifth Avenue, the newly restored historic 1912 building, originally designed by architects Schwartz & Gross, has been redesigned by Helpern Architects, with interiors by Pembrooke & Ives, and features 47 luxury residences, consisting of two-, three- and four-bedroom homes. Sotheby’s International Realty is leading the sales and marketing of the residences. For more information on 212 Fifth Avenue, please visit www.212FifthAvenue.com.
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