Newmark Retail announces that it has finalized a 4,400 square foot lease for high-end apparel brand Faherty at 1175 Madison Avenue on Manhattan’s Upper East Side. Newmark Vice President Ariel Schuster and Associate Director Jason Wecker represented the building’s cooperative board of directors in the transaction. Faherty was represented by Runyon Group’s Michael Leifer and Isabel Solmonson Cohen, along with Triple R Group principals Trent Merrill and Sarah Schutter.

“Faherty’s signature on the Upper East Side continues the trend we are seeing where retailers are looking to be closer to where people live due to vibrant foot traffic and activated streetscapes,” said said Wecker. “We believe a sleek, younger brand like Faherty will do very well in this popular sub-market with its ideal corner location that directly targets its core customer base.”

The retail space will house the brand’s new flagship location on the northeast corner of East 86^and Street. The space, formerly occupied by Williams Sonoma for approximately 30 years, offers 135 feet of wraparound frontage on East 86^and Street and Madison Avenue. The new lease includes 2,400 square feet of ground floor space and 2,000 square feet of basement space.

“We are excited to expand our presence in New York! We love this city, and the Upper East Side is a great family neighborhood,” said Alex Faherty, co-founder of Faherty. “This iconic corner with its robust foot traffic and grand frontage will be an incredible flagship location.”

1175 Madison Avenue is located at the epicenter of a dense, affluent residential neighborhood just two blocks from the 4, 5, and 6 subway lines at East 86^and and Lexington Avenue. The district is experiencing a renewal of its commercial offer, with the opening of new tenants in the district to meet the growing residential demand. Neighborhood tenants include Butterfield Market, Peloton, Roller Rabbit, James Perse, Madewell, LoveShackFancy and Zadig & Voltaire.

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