Space at 1296 Third Ave. goes to Garrick-Aug

Real Estate Weekly, August 22, 2001

The leasing team of Faith Hope Consolo and Joseph Aquino of GarrickAug Worldwide, Ltd., has arranged the leasing of Searle's newest location on Manhattan's Upper East Side at 1296 Third Avenue, between 74th and 75th Streets. The space is approximately 3,700 SF, formerly part of McKay Drugs.

"This is Searle's fifth location," states Aquino, managing director. "It joins the other Searle shops here on the Upper East Side in a wonderful neighborhood, home of superlative restaurants, gourmet food, antique stores, chic boutiques, fascinating jewelers, galleries, museums - and residents who shop all day, every day, seven days a week."

"As with many other city locales, this area is a town within a city, completely self sufficient for all its wants and needs - even the most discriminating. Some of the other merchants in this sensational marketplace are: Papyrus, Rodier, Citarella, Bisou-Bisou, Scoop, Kate's Paperie, William Poll, Payard Patisserie, Z'Baby, Jane, Cashmere USA, Christina Borg Antiques, Mary Arnold Toys, Gap Baby - something for everyone, young or old."

Consolo, vice chairman, continues: "Searle will be designing a brand new storefront for the shop, similar to their flagship store at Madison and 58th Street."

"Searle's first shop was at 62nd Street and Third Avenue, in 1962. Searle was known for its polished and stylish merchandise, beautifully tailored in some of the world's finest and often, unusual fabrics. In those days, the Searle name was practically synonymous with 'shearling' and great-looking coats. In the 1980s, Searle began to wholesale its own line to some of the finest stores in the world, including Saks Fifth Avenue and NeimanMarcus."

"Recently. two shops have started to carry makeup: Rainy, created by makeup artist, Rainy Gafni."

"In 2000, the company took on a new direction in their marketing, focusing on contemporary sportswear by designers such as Anna Sui, Jean Colonna, Emma Black, Daryl K-189, lingerie, contemporary accessories and shoes. Sales volume increased 35 per cent that year. Now, although the shearlings and coats are still there, all five stores will have a representation of new look."

Aquino concludes: "And in the very near future, practically a small village of potential new customers for that new look will be moving in, as the three recently constructed high-rise, multi-use buildings in the area - The Impala, The Seville, and The Empire - start to fill up. This is a neighborhood where the retail sky's the limit! Best of luck to you, Searle." The Garrick-Aug leasing team represented both the landlord and the tenant.