Madison Avenue‘s vacancy rate has dropped down to 5.6 percent, nearing historically low pre-pandemic levels for the nation’s premier luxury venue.
Six months ago, Madison’s vacancy rate along the stretch from 57th to 86th streets was just under 8 percent. In 2023, the vacancy rate stood at 10 percent, and during the pandemic, it exceeded 16 percent. Sixteen years ago, it was in the 4 to 5 percent range.
“The primary reason for businesses deciding to open here on the avenue is because they see the strength of the local residential community. You can count on the local market,” Matthew Bauer, president of the Madison Avenue Business Improvement District, told WWD.
Bauer said most residents on the Upper East Side “have the means, the interest and the proximity to be loyal customers. If you create a great product and have a lovely store, you will have customers. Brands and designers are continuing to invest on Madison Avenue.”
The BID just released its 2025 second-half report, which indicated 16 businesses opened on Madison Avenue. In all of 2025, 42 businesses opened along that stretch. The BID is focused on the streets from East 57th to East 86th streets.
Stores and other businesses expected to open on Madison Avenue this year include: Goyard, at 699 Madison; Loewe, 694-696 Madison; Marli, 785 Madison; Pasquale Bruni, 789 Madison; a Pernia pop-up, 601 Madison; Plaza Athénée Nobu Hotel & Spa, 37 East 64th Street; Ruti, 1100 Madison; Susan Alexandra, 1088 Madison, and Thom Sweeney, 761 Madison. Also, a fine dining restaurant is expected to open at Sotheby’s New York, 945 Madison.
Expansions or relocations are occurring at Akris, 772 Madison; CH Carolina Herrera, 825 Madison; Mackage, 791 Madison, and Missoni, 787 Madison.
In addition, construction is well underway at Plaza Athénée Nobu Hotel & Spa and at new mixed-use skyscraper projects at 625, 655 and 1128 Madison Avenue, which are expected to attract new residents, retailers, hospitality and offices to the district.
In the second half of last year, Sotheby’s New York opened in the landmark Breuer Building, site of the former Whitney Museum of American Art, for its new global headquarters, which also welcomes collectors and art lovers, and is considered a new Madison Avenue anchor.
Additional openings on Madison Avenue from July 1 to Dec. 31, 2025 were: Astrid & Miyu, 1134 Madison; Birley Bakery, 20 East 69 Street; Farm Rio, 1055 Madison; Favorite Daughter, 1133 Madison; Frank & Eileen, 753 Madison; Gerard Darel, 1003 Madison; Jennifer Fisher, 1159 Madison; Kujten, 831 Madison; Messika, 727 Madison; Peter Harrington, 35 East 67th Street; Rodder Gallery, 22 East 80th Street; Roxanne Assoulin, 1069 Madison; Tuckernuck, 1121 Madison; Ulla Johnson, 849 Madison, and Violet Grey, 43 East 78th Street.
The former Barneys New York site on Madison and 61st remains vacant. It’s believed to be owned by a group that includes Ashkenazy Acquisition, and could be redeveloped into condos and offices with retail at the base.
The new Astrid & Mayu jewelry store on Madison Avenue.
