Luxury furniture brand Poltrona Frau will take place at 181 Madison – Commercial Observer
furniture dealer France takes up 19,000 square feet of space to 181 Madison Avenuebrokers for confirmed deal.
The brand plans to leave its flagship location at 151 Wooster Street behind for the former Midtown location of Domus design centerwho recently moved to 134 Madison Avenue, according to New York Postwho first reported the deathI.
The new location will give Poltrona Frau 8,000 square feet on the ground floor and an additional 11,000 square feet on the lower level when it opens in early 2023.
Andrew Kahn, Chris Stanon, Fanny Fan and Jack Pfalzgraf of Cushman and Wakefield represented both the owner, APF propertiesand the tenant in the transaction.
C&W declined to provide terms of the deal, but said corner locations in NoMad range from $175 to $250 per square foot. The APF did not immediately respond to a request for comment.
The 275,496 square foot mixed-use building at 181 Madison features both office and retail space, along with a 169-foot wrap-around frontage and 17-foot ceiling heights.
The famous 19-story Art Deco building was previously owned by Tishman Spire and The Cogswell-Lee Development Group – who bought it in 2014 for $185 million – before the APF picks it up.
Founded in 1912, Poltrona Frau has been headquartered in Tolentino, Italy since the 1960s. Although known for its distinctive handmade designs, it is perhaps best known for manufacturing custom luxury seating for yachts, cars and planes.
It also designs seating for high-end theaters, auditoriums and showrooms.
Having been featured in places such as Studio Zaha Hadid, Foster & Partners and David Chipperfield ArchitectsPoltrona Frau became part of Haworthbrand portfolio in 2014, according to C&W.
Marc Hallum can be contacted at [email protected].