Fashion forward footwear designer increases stake on 34th Street.
Steve Madden, one of the most iconic brands of footwear in the fashion world, has operated a store at 41 W. 34th Street for many years, and is a well-known brand to 34th Street shoppers. Now we learn from Real Estate Weekly that the Queens-based entrepreneur has signed a lease to occupy 40,000 sq. ft. at the Martin Building, just down the block at 19 W. 34th Street.
PRD Realty Corp., a commercial and residential developer, property owner, and management company, announced the deal, which has Steve Madden taking over the entire fifth floor, in addition to parts of the fourth and eighth floors. The company will use the space for one of its corporate headquarters, as well as for a showroom.
The article also noted that the leather accessories company Trebbiano signed a lease at the same address, for 20,000 sq. ft. of office space and a showroom. These deals illustrate that PRD Realty found success after undertaking major improvements to the building. Improvements included a redesigned lobby, now adorned with slab-to-slab limestone and travertine stone imported from Italy, walnut wood panels, and Flos LED light fixtures, creating a modern and upscale atmosphere. Furthermore, the building has three brand new high-speed passenger elevators, over-sized windows, and a class ‘E’ fire alarm system.
This development follows a trend on 34th Street: owners invest in their buildings and then welcome high-quality tenants to the refurbished digs.
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