The Italian luxury brand signed a deal for 23,000 square feet in the low-rise retail building, which spans a total of 30,000 square feet, The Real Deal reported.
Details on the deal — such as the asking rent, the length of the lease and the names of tenant brokers — are sparse, but Hermès vacated the building for a new flagship across the street at 706 Madison Avenue at the end of 2022.
Dolce & Gabbana, Tahl Propp Equities and Matthew Seigel of Lantern Real Estate — who represented the landlord in the deal — did not immediately respond to requests for comment.
The fashion designer currently has a 18,400-square-foot flagship at 717 Fifth Avenue which it leased from Jeff Sutton and SL Green Realty in a 15-year deal signed in 2011, Commercial Observer reported at the time.
It’s not clear whether the existing flagship or any of the brand’s other locations will close as this new four-story location opens. Floor plates in the new space range from 4,200 to 5,000 square feet.
Mark Hallum can be reached at email@example.com.