Boutique gem retailer arrives

Real Estate Weekly, March 26, 2008

Faith Hope Consolo, chairman, and Joseph A. Aquino, executive vice president, of Prudential Douglas Elliman's Retail Leasing and Sales Division, represented both the landlord and the tenant in bringing Carat to 509 Madison Avenue.

Occupying ground floor and mezzanine space on Madison Avenue, this new boutique will house Carat's U.S. flagship. With locations in Tampa, Florida and Atlantic City, New Jersey and worldwide in Hong Kong, the United Kingdom, Australia, and Japan, the company's signature high-quality synthetic and simulated jewelry will be right at home along New York's thoroughfare for jewels, Madison Avenue. "As the exclusive leasing agent for Carat, we look forward to working closely with this emerging powerhouse jeweler in its pending expansion efforts," said Consolo. "This new boutique is located in a neighborhood associated with offering only the creme de la creme in retail, because it is surrounded by chic hotels, palatial residences, and wealthy corporate offices."

"This particular corridor is enjoying an influx of development, which, in turn, will enhance the area's already glittering retail roster," added Aquino. "The 30-story tower currently rising at 510 Madison Avenue, across the street from Carat's new location, will host luxury amenities conceived to attract high-profile tenants, including a health club with swimming pool and garden deck."