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Galo Shoes Leases Second Piece of Former Pharmacy in $10M-Plus Deal

NEW YORK CITY-The chic heeler signs a 15-year lease at $150 per sf for its fourth store, a 5,435-sf space on the Upper East Side next door to upscale women's clothing store Searle.

By Glen Thompson | Updated on February 20, 2002

NEW YORK CITY-High-end retailer Galo Shoes has taken the remaining 5,435 sf of a former McKay pharmacy on Manhattan’s Upper East Side adjacent to the newest location of upscale women’s-apparel chain Searle. Last summer, Searle leased a 3,700-sf space at the 1296 Third Ave. property.

Galo leased the space for 15 years at $150 per sf. Faith Hope Consolo and Joseph A. Aquino of Garrick-Aug Worldwide Ltd. represented building owner Barnan Associates LLC, a subsidiary of the Olnick Organization. Consolo valued the deal at “between $10 million and $11 million.” Judson Realty Co. represented Galo.

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