As the upper end of Manhattan’s real estate market continues to make gains, CORE is thrilled to announce plans for a new Upper East Side retail location at 673 Madison Avenue, at the corner of 61st Street. Located on the second and third floors of a historic brownstone on one of New York City’s premier commercial avenues, CORE’s Upper East Side office is slated for a spring 2013 opening, following a thorough gut renovation of the 3,500-square-foot space that will begin this fall. The uptown office will be the company’s third, following its original Chelsea retail location at 127 7th Avenue and its Flatiron District office at 104 5th Avenue, which opened last year.
We spoke with CORE co-founder and CEO Shaun Osher about this exciting news, and below you’ll find his remarks on the new office and how it fits his vision for CORE. For more on the announcement, read The Real Deal’s coverage today.
CORE’s other offices are located downtown. Why the move into the Upper East Side?
Osher: We have transacted a large amount of resale and new development business uptown, and we see this as a perfect time to grow our boutique luxury brand to represent our clients in this neighborhood.
Why expand now? Is it a commentary on the strength of the Manhattan real estate market?
Osher: Our business model has always been to expand where it is consistent with our brand, not market conditions. We opened the Chelsea office at the lowest point of the market.
How does this new location fit into your vision for where CORE is heading as a company?
Osher: CORE is a luxury boutique brand that caters to the upper end of the market. We see this location on Madison Avenue as a representation of our brand and a natural fit with the other luxury flagship retail stores on one of the most prime real estate avenues in the world.