High-end clothing brand Kiton has leased a space at 692 Madison Avenue, between 62nd and 63rd Streets, @tradedny announced.
The 2,400 square foot space had an asking price of $500 per foot per year, which comes to $1.2 million per year or $100,000 per month. We’re not sure if Kiton paid full ask.
The Italian company, founded by Ciro Paone in 1968, sells men’s and women’s apparel and accessories known to command shockingly high price tags, like:
- This deerskin backpack for $2,800.
- These cotton trousers for $820.
- These $1,080 cashmere shoes.
- … And this jacket, “made from exquisite camel-brown wool,” for a cool $17,610.
The retailer has locations all over the world, with another NYC store at 4 East 54th Street.