Steve Madden walks into 60K sf at ESRT’s 501 Seventh Ave

Tenants walked in the Garment District so Steve Madden could run. The shoe and accessories retailer signed a 13-year lease for 60,000 square feet at Empire State Realty Trust’s 501 Seventh Avenue, the Commercial Observer reported. The deal, disclosed this week in the real estate investment trust’s first-quarter earnings report, carried an asking rent in the low $60s per square foot. Steve Madden appears to be relocating from Long Island City; the company’s corporate headquarters is located at 52-16 Barnett Avenue in the Queens neighborhood. At the 18-story 501 Seventh Avenue, Steve Madden will be joining tenants such as Japanese […] This article originally appeared on The Real Deal. Click here to read the full story.