Outerwear Lifestyle Brand RAINS Inks Flagship Retail Lease at 575 Madison Avenue

In a transaction arranged by CBRE, RAINS, an international outerwear lifestyle brand, has inked a 700 sq. ft. retail lease for its New York City flagship location at 575 Madison Avenue, a premier property owned by Steinberg & Pokoik Management Corp. RAINS will occupy prime ground floor retail space with a newly built double height storefront at the bustling intersection of 57th Street and Madison Avenue.

The CBRE team of Matt Chmielecki and Preston Cannon is spearheading the retail leasing the property and represented the building ownership in the lease negotiations. The asking rent was $700 per sq. ft.

“RAINS is the latest example of a top-quality fashion brand choosing 575 Madison Avenue for their flagship Madison Avenue location,” said Jonathan Pokoik of Steinberg & Pokoik. “We are thrilled to have RAINS join other major retailers including Breitling, Vacheron Constantin, Oliver Peoples and Tumi as tenants at the base of our building,” added Matthew Steinberg, also of Steinberg & Pokoik.

The owner-occupied property features a recently renovated lobby, new retail space, upgraded elevator cabs and a parking garage just steps away from world class businesses, restaurants, hotels and shopping. The landlord recently completed a spectacular amenity center on the 26th floor featuring a conference center and lounge area and an expansive terrace. The double-wide streets at 57th and Madison allow for great light even in base of the building, which also offers proximity to numerous public transportation options, including the 4, 5, 6, N, R, W, E and M trains.

Richard Skulnik and Ben Sabin of RIPCO represented RAINS in the lease negotiations.