The pandemic devastated Madison Avenue storefronts. But luxury retailers are now back in action and breathing new life into this world-famous shopping district.
Earlier this year, IWC Schaffhausen brought a flagship store to 60th Street and Madison Avenue, and in September, French jewelry house Boucheron opened its first NYC boutique at 65th Street.
It is also promoting real estate. brand new Giorgio Armani Residence 760 Madison Avenue, after hitting the market less than a year ago, sold 10 of its condos in July (the penthouse went under contract with an asking price of $32.5 million).
MegaDeveloper Related Is Now Construction of a 1,200-foot condo-hotel-retail tower on 58th StreetWhile another 22-unit luxury condo tower from Legion Investment Group and Nahla Capital scored $195 million in construction financing on 83rd Street.
The list is long, but this is definitely the most exciting new project SurreyWhich opens on Friday.
new five star Corinthia Hotel It’s from British developers Reuben Brothers, who plan to give New York’s other Grand Dame hotels a run for their money. Located on 76th Street, it’s just steps away from the Carlyle and just a block from the Mark’s. Surrey plans to outdo its neighbors by adding the buzz-factor with Casa Tua, the first in the city to run its own food-and-drink program.
Is this another weapon? Very exclusive real estate. “The Surrey was built in 1926 as a residential hotel, and it was always a home away from home for many famous New Yorkers,” said Douglas Elliman’s Susan De Franca, who is leading sales on the Surrey’s 14 residences. , she says. “By far the majority of buyers are people living in New York, many of whom live in the neighborhood. They’re legacy transactions, where people say, ‘I’d like to pass this on to future generations, because it’s so rare.’ ,
DeFrança has already sold half of the new two- to three-bedroom units, and is moving out the rest (the 16th-floor penthouses have not been released yet).
Four condos are currently on the market; 15A is the most valuable at $15.95 million. The 3,200-square-foot, three-bedroom, three-and-a-half bathroom suite features Calcutta marble, chevron floors in white oak and a 27-foot great room. No. 14C, which is asking $11 million, is a 2,127-square-foot, two-bed, two-and-a-half-bath.
It comes with a terrace of approximately 200 square feet. Surrey is also a surprisingly good neighbor, adding interest to the entire Madison Avenue corridor – and making an unbeatable bar-hopping circuit.
Start with a sip that’s reminiscent of Miami or Aspen at Casa Tua, followed by one of Bemelmans’s “so big you can drown in it” martinis. End the evening with a scotch at Mark’s Bar and sleep it off upstairs, where a rare residential unit, No. 1503, is on the market for $6 million.
The 2,815-square-foot, three-bedroom, three-and-a-half-bath residence is listed with Janet Wang of Corcoran. With prices fluctuating in Madison, what’s good for the swans is also good for the sightseers.
