Jeweler and fine watch retailer Cellini will open at the base of the office building at 430 Park Ave.
The 2,914-square-foot space has 107 square feet of frontage that wraps the southwest corner of East 56th Street.
It is also up the avenue from the Waldorf Astoria Hotel, where Cellini had been a staple before being bumped when the hotel closed for renovations. Cellini’s 509 Madison boutique remains open.
Ike Bibi of RKF represented the independent jeweler in the 10-year deal while RKF colleagues Beth Rosen and Benjamin Zack represented building owners Oestreicher Properties and Midwood Investment & Development.
The asking rent for a smaller available store is $350 per foot.
The building is on a long-term ground lease from the Korein family.
Once a brick apartment hotel, it was converted to offices in 1953. In 2001, it was completely updated with a pale-green glass curtain wall by MdeAS.
Among the real estate luminaries involved in earlier iterations of the property was the only child of John Jacob Astor III, William Waldorf Astor, who also built the Waldorf Hotel. The hotel was later combined with the Astor Hotel, constructed by his cousin, John Jacob Astor IV, to become the Waldorf-Astoria Hotel where Cellini had been selling jewelry for over 40 years.
Until January 2011, the retail space at 430 Park held the celebrated Mercedes-Benz Manhattan showroom designed by Frank Lloyd Wright that was the inspiration for the ramps of the Guggenheim Museum.
Preservationists had hoped to landmark the interior – which would have depressed its usage for another retailer – but in early 2011 the owners obtained permits and demolished the built-ins.
Despite the white box availability, a series of other deals fell through.
After the space was divided, Post colleague Steve Cuozzo reported Joe & The Juice leased 1,620 square feet next to the lobby where it is now open. The remaining 1,200 square-foot in-line space is still available with an asking rent of $350 per foot.
