Italian suit designer Castangia 1850 is opening its first permanent U.S. showroom at 521 Madison Avenue in Midtown, Commercial Observer has learned. The 168-year-old suit maker has agreed to take 1,800 square feet spanning the entire second floor of the eight-story, roughly 15,000-square-foot office and retail building between East 53rd and East 54th Streets, the brokers involved in the transaction told CO.
The deal—a three-year lease that gives the tenant an option for an additional two-year term—was signed last week, with Castangia set to take occupancy of the space on July 1 and open its doors later in the month. Asking rent in the transaction was $65 per square foot. Steven Evans of Platinum Properties represented Castangia in the deal, while Alexander Furst and Louis Puopolo of Douglas Elliman Commercial represented the landlord, a private family firm led by Evans Cyprus.
