NYC Former Playboy Club

Owners of Former Playboy Club Repositioning East 59th Street Building

For the first time ever, 5 East 59^th Street has hit the leasing market as a single-tenant retail re-positioning.

5 East 59^th Street offers an opportunity to create 50 feet of frontage and branding potential across eight floors that tower over Apple, Cartier and the GM Building Plaza on the corner of 59^th Street and Fifth Avenue.

The property is in the heart of Fifth Avenue, the number one shopping corridor in the world, and sits directly at the center of three of Manhattan’s most fashionable department stores—Bloomingdale’s, Bergdorf Goodman and Barney’s.

Within one block of the property, more than $1.5 billion is spent on consumer goods annually.

5 East 59^th Street is a rare opportunity for a single-operator to house its retail, showroom and ancillary uses in one stand-alone building in one of Manhattan’s most prominent locations, according to Darrell Rubens, executive vice president at Winick Realty Group, who is handling the leasing assignment alongside David Falk of Newmark Grubb Knight Frank.

The property features 50 by 100 foot floor plates, as well as 22-foot ceilings in the ground-floor selling space and a penthouse with views of the New York City skyline and the GM Building Plaza.

“5 East 59^th Street is truly a blank canvas for a retailer to make their mark on one of the most affluent and heavily-trafficked areas in all of Manhattan,” said Rubens.

“The property can be as understated as Valentino at nearby 597 Fifth Avenue, or as eye-catching as Dior and Louis Vuitton on 57^thStreet. The possibilities are endless.”

5 East 59^th Street is flanked by the Sherry Netherland and the former Crate & Barrel space. Across the street, the Apple “cube” is one of Manhattan’s most photographed landmarks and the subterranean selling space is believed to be one of the highest grossing retail stores in the world.

Rumor has it Cartier’s temporary location on the GM Building Plaza, directly across from 5 East 59^thStreet, is so successful that it will remain their permanently as a second location to its iconic townhouse store.

“Demand for luxury retail in this neighborhood has reached never-before-seen levels,” said Rubens, “and availabilities on the corridor between 49^th Street and 59^th Street on Fifth Avenue have become very hard to find, making the availability at 5 East 59^thStreet even more unique and exclusive.”

“This extremely high profile opportunity is unique in that it not only can be a perfect fit for a luxury retailer but also offers world-renowned brands a showcase for their latest technologically-advanced products in the perfect setting,” added Falk.

GreenOak Real Estate and Capstone Equities partnered to acquire and reposition 5 East 59^thStreet.

Winick Realty Group’s Rubens, Kelly Gedinsky and Lee Block are working alongside ownership to find the ideal tenant.

5 East 59th Street

5 EAST 59^TH STREET

Join the Area where ALL THE BUZZ IS AROUND: 5 East 59th street is situated in between manhattans most sought after luxury markets: 57th a Street- Billionaires row, Madison Avenue- the Gold Cost and 5th Avenue.

• The plaza district is one of New York’s most famous and internationally recognized addresses and the upper east side of Manhattan is North America’s premier luxury district. It features the flagship boutiques of the finest European and American designers, world class art galleries, exquisite restaurants, spas and salons, five internationally renowned hotels,. The plaza district combines timeless elegance with a contemporary twist that is distinctively New York. This epicenter attracts shoppers from all corners of the globe.
• Madison Avenue- the Gold Coast- is one of North America’s premier luxury districts. Retail branding on Madison Avenue is considered by national and international brands as an advantageous advertising strategy in lieu of print media.

• 5 e 59^th Street provides your brand the flagship opportunity of exposure, visibility, accessibility to thrive among leading global retail names on the most heavily trafficked and energetic shopping corridors in the world directly across the Street from Apple and Cartier.
• This extraordinary location offers you the unique ability to design the perfect retail environment to expand your “retail” vision on 9 floors, while giving your brand a dominating presence on the world’s largest retail stage.
• Apple is one of the most photographed attraction on the island of Manhattan. Half of these photos would include your brand in the backdrop.
• NYC is considered the most important retail and fashion market in the U.S. and arguably the world. The city consists of several world class destinations, including 5^th Avenue and Madison Avenue.

Residential

• In a 3 block radius, $16 billion worth of residential and commercial development is under construction from 56^th to 63^rdfrom the East to the West Sides.
• 432 Park Avenue on 57^th Street between Park and Madison is the tallest residential building in Manhattan
• Extell’s One57 sold the most expensive apartment in New York City at $100M

Location Location Location

• 5 East 59^th Street draws a sophisticated, international retail clientele, as well as upscale office workers and affluent residents year-round. The Fifth Avenue retail corridor and adjacent Madison Avenue are home to some of the highest performing retail stores I the world. Retail neighbors include Bergdorf Goodman, The Plaza Retail Collection, Barneys New York, Louis Vuitton, Van Cleef & Arpels, Bvlgari, Tiffany & Company, and the highest performing Apple Store at the GM Building. 5 East 59^thStreet over 5,000 square foot of signage, 24/7, 365 days a year. Visible from apples#1 store in the world, Cartier’s 5^th avenue flagship, Bergdorf Goodman,

• The building:
  • Formerly the Playboy Club once famous for distinctive décor, the club at 5 East 59^th Street was the strictest of all 40 clubs making it the classiest and most sophisticated of the entire chain.

• 57th Street- Billionaires Row- is home to some of the most coveted household names in the world. Billionaires Row exemplifies luxury, branding and retail. Tourist spending is predominantly concentrated on 5th Avenue, 57th Street and Madison Avenue.

Tourism

• Between 48th Street and 72nd Street, from Madison to 6th Avenue, 18% of all the retailers are Italian in origin; 33% are American; 15% are French; 10% are British and 8% are Swiss. Of these retailers 72% are luxury conglomerates; 7% are juniors/teen and 9% are contemporary retailers.
• 6 million people walk into the Apple store every year (12,600 a day)

• the plaza hotel. This unique opportunity will allow you to construct your unique identity on the constantly-evolving fashion capital of the world.

New Store Concept Design at 5 East 59th Street 50 Feet of frontage

As exclusive agents we are pleased to offer the following retail opportunity:

Up to 40,000 Square Feet 

Retail, Office, Showroom, Event Space, and/or Residence

50 x 100 floor plates over eight stories

• 8 story, single tenant exclusive retail offering
• Blank canvas space with 50 x 100 of impressive frontage
• 5,000 SF of façade for unique branding opportunity
• Second floor slab removed for ground floor double height ceiling

CEILING HEIGHT: 22-foot, double-height ceilings on the ground floor

ASKING RENT: Upon Request

COMMENTS:  5 East 59th Street sits in the heart of the Plaza District, NYC’s preeminent shopping and commercial neighborhood, and is located directly across from the iconic Apple cube, believed to be the highest grossing retail store in the world.   With 50 feet of frontage across 100 vertical feet, offering unlimited branding potential, this is an unprecedented “blank canvas” opportunity and available immediately.

POSITION

• Set within retail golden triangle; Barneys + Bergdorf + Bloomingdale’s
• Bridges the Fifth Avenue retail corridor with 59th Street
• 26 million ridership to nearby subway stations
• Central Park & Plaza Hotel are top NYC tourist destination

APPLE & RETAIL

• Over $1.5B in annual retail sales within one block radius
• Located directly across from Apple & Cartier flagship story
• Apple has become most photographed NYC landmark annually
• Apple open 24/7 generating 365 days of constant foot traffic

FOR FURTHER INFORMATION PLEASE CONTACT EXCLUSIVE AGENTS:

Darrell Rubens, EVP, (212) 792-2616, rubens@winick.com

Kelly Gedinsky, (212) 792-2637, kelly@winick.com

Lee Block, (212) 792-2649, lee@winick.com