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Madison Avenue
Digital Youngsters Have Mad Men On the Run
Fast Company published a sprawling feature today on the seismic disruptions underway on Madison Avenue, where traditional firms and players are finding themselves overthrown by digital upstarts. As writer Danielle Sacks puts it:
Most of the men and women here -- average age: 38 -- have worked at agencies for more than a decade. Such Read More
Advertising The Ads: Google Courts Mad Men In Times Square
Google was once famous for its lack of advertising. But today the search giant is installing a billboard in the world's most famous ad space, Times Square, touting the value of its display ad business.
Google built itself around search advertising, and 90 percent of its revenue still comes from these text based ads. That has Read More
Call the Fashion Police! Haute Theft Thrives on the Upper East Side
Sometimes, the popularity of a certain expensive article of fashion can be measured by the number of women who, not having saved the money to purchase it, attempt to steal it.
This has been the case, recently, with the ubiquitous Herve Leger minidress (pronounced Er-veh, Ley-Jeh), that flab-friendly blend of rayon, nylon and Read More
Eye Opener: Dumbo is the New Madison Avenue
Disgraced Tour de France winner adopts an "I'm taking you all with me" stance [NYT]
"Beef Hampers Rap Museum." [WSJ]
Third deputy mayor departs Bloomberg administration [WNYC]
Dumbo is the new Madison Avenue [WSJ]
Is The Good Wife the new Law & Order for New York actors? [NYT]
Single Parisian Read More
Madison Avenue Retail Rents Plunge
Manhattan retail rents continued to fall in the first half of 2009, according to a report from CB Richard Ellis, reflecting an “ongoing weakness” that appears to be affecting retailers toward the higher end more than shops targeted to bargain hunters.
The toniest stretch of Madison Avenue, from 57th to 72nd streets, was the hardest Read More
Vornado Sues Italian Retailer Krizia Over Back Rent, Vacating Madison Ave Store
Steve Roth's Vornado Realty Trust is suing the Milan-based designer store Krizia S.p.A. for $343,333.33, plus interest and potentially more, for vacating its space at 769 Madison Avenue before its lease expired and for failing to pay rent.
The lawsuit, filed in state Supreme Court on June 11, alleges that Krizia chose to extend its $1 Read More
On Madison, Hear the Cry of Luxury Retailers
From Crain's Cara S. Trager: "[W]ith sales of luxury goods hit particularly hard by the recession, nowhere is the impact being felt more acutely than on the gilded stretch of Madison Avenue running from East 57th Street to East 72nd Street. ... In a sign of the distress, vacancies last year soared to 12.4%, Read More
The Local: Code Red on Black Friday
Recession or not, when Erin Lima makes the trip from Philadelphia to New York City, “shopping is inevitable.”
“Every time you come here you have to,” she said, while browsing the handbag section of Bergdorf Goodman on Saturday with her husband in tow. “You can’t help yourself.” The Limas and another couple got “the Read More
Madison, East 57th Retail Rents Static
The Cushman & Wakefield Global Retail Market Report released on Wednesday showed that the average retail rent for space along Fifth Avenue had jumped 23 percent annually in June 2008 to $1,850 a square foot per year. That made that stretch of Manhattan the world's most expensive retail corridor.
But there's also Madison Avenue and Read More
Madison Avenue Hotel Trades for $32 M.
Take that, Sam Chang!
A budget Madison Avenue hotel (dubbed, appropriately enough, Madison Hotel), has traded for a cool $32 million, according to city records uploaded today.
The hotel, at 62 Madison Avenue, rents out single rooms, with bath and shower and AC, for just $138 dollars a night, doubles for $150.65, and "family rooms" for $163.30. Read More
Biggest Deal of ’08: 650 Madison Closes for $680 M. (Meh)
It’s a sign of the times: Japanese firm Hiro North American Properties’ sale of the office tower at 650 Madison Avenue has closed, and, at $680 million, it’s the biggest building sale of 2008 so far (and the only over $400 million). Wasn’t too long ago—10 months, give or take—that $680 million for a Midtown Read More
Why A $33 M. Park Avenue Townhouse Is Like A $5,000 Madison Avenue Dress
In my Manhattan Tranfers item today on gold watch guru Benny Shabtai’s townhouse at 870 Park Avenue, I tried to figure out why someone who couldn’t sell his house in 2006 for $19.9 million would try selling it now for $33 million.
The Brown Harris managing director John Burger, who isn’t involved with Read More
Parisian Jeweler Muscles In On Leviev’s Madison Turf
Lev Leviev will soon have some competition up on Madison Avenue. Mauboussin, the high-end Parisian jeweler, has signed on for 8,400 square feet at 714 Madision Avenue, according to Newmark Knight Frank’s Amira Yunis. The building was formerly occupied by upscale women’s clothing store Shanghai Tang. Founded in 1827, Mauboussin is one of the oldest Read More
Chocolatier Takes Space at 11 Madison
The 5th Avenue Chocolatiere is opening up its fourth Manhattan location.
The 30-year old family-owned and operated chocolate company has leased 300 square feet at 11 Madison Avenue, according to Winick Realty. The company signed a 10-year lease in the building that also houses the Danny Meyer staples Tabla and Read More
