Newmark Signs 4,649-SF Flagship Outpost for Heritage Brand, Hästens, at 132 Madison Avenue in Manhattan

January 23, 2024 9:00 AM

Newmark Retail announces it has secured a new 4,649-square-foot flagship retail lease at the base of 132 Madison Avenue, a newly developed luxury condominium building known as Madison House in the heart of Manhattan’s NoMad neighborhood. The transaction welcomes Hästens, a Swedish manufacturer and heritage brand that offers handcrafted beds and lifestyle accessories. Newmark Director Jason Wecker represented the tenant on the lease transaction.

“This transaction speaks to the demand we’ve been witnessing from luxury home goods and furnishing companies seeking space on this Madison Avenue design corridor,” said Wecker. “Hästens will make for a great addition to the neighborhood.”

Since its inception in 1852, Hästens has earned acclaim for crafting premium beds and only the best sleep accessories. Originally established by Pehr Adolf Janson as a saddler business, the company has maintained its status as a family-owned enterprise with its headquarters in Köping, Sweden. Particularly noteworthy is the demand for Hästens’ opulent, meticulously handcrafted Grand Vividus, which takes 600 hours to construct while commanding prices reaching up to $1,000,000, resulting in a waiting list. The tenant signed a long-term lease to occupy the ground floor and lower-level retail spaces at 132 Madison Avenue.

Situated at the base of the 69-story, 199-unit condominium Madison House, 132 Madison is primely located in the heart of Manhattan’s bustling NoMad neighborhood. The retail outpost benefits from being amongst the highly trafficked Madison Avenue corridor and being close to many public transportation, retail, entertainment and restaurant destinations.

A joint venture between JD Carlisle and Fosun International, Ownership, was represented by Collier’s David Green and Alexander Green.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of September 30, 2023, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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