Cushman & Wakefield announced today that TIAA-CREF has appointed the real estate firm as the retail leasing agent for 475 Fifth Avenue, located on the southeast corner of East 41st Street.
The retail space at 475 Fifth Avenue consists of 18,715 SF on the ground and second floor with over 150 feet of wraparound frontage and excellent ceiling heights on both levels.
Cushman & Wakefield’s seasoned retail team of Joanne Podell, Gene Spiegelman, Michael O’Neill, and Brandon Singer, will serve as exclusive leasing agents.
“We believe this is a rare opportunity to secure an affordable flagship position on Fifth Avenue” said Podell, Vice Chairman Retail Services. “The market dynamics exist to create a high volume and profitable position on arguably the world’s most recognized shopping street.”
“475 Fifth Avenue boasts comparable co-tenancy and pedestrian footfall to the stretch of Fifth Avenue north of 42nd Street.” said O’Neill, Senior Director Retail Services. “In addition, the tremendous storefront presence and dramatic ceiling heights lends itself to creating a true flagship experience.”
“Bryant Park has established itself as a destination of choice for both New Yorkers and tourists” said Spiegelman, Vice Chairman Retail Services. “That coupled with the international draw of Fifth Avenue shopping makes this a truly unique opportunity for a global brand.”
In the last two years, the building has undergone a major capital improvement plan consisting of a repositioned new office lobby and exterior at 41st Street, new office interiors and windows, as well as multiple private outdoor terraces.
Jones Lang LaSalle is the exclusive office leasing agent for the building.