The Italian fashion label Miu Miu, a subsidiary of the Prada Group, has reaffirmed its commitment to Midtown Manhattan by renewing its lease. This news comes as part of a retail report issued by CBRE, which noted the brand has signed a renewal for a substantial 24,000 square feet at the prestigious 11 East 57th Street, located in the Plaza District.

Historic Space Transition

Miu Miu initially occupied this Midtown space starting in 2007, taking over from another Prada-related label, Jil Sander. This location is notable for its central position between Madison and Fifth Avenues, a prime area for luxury retail.

Market Insights and Lease Details

While specifics regarding the duration of the lease renewal and the associated rental rates remain undisclosed, the retail landscape in Manhattan is bustling. According to CBRE, the average retail rent in the area reached an impressive $659 per square foot in early 2025.

Additional Retail Presence

Miu Miu is not just limited to its Midtown presence; it also operates two additional retail locations in Manhattan. These include a dedicated store nestled at 100 Prince Street in SoHo, along with an outlet within Bergdorf Goodman’s flagship department store at 754 Fifth Avenue.

About Miu Miu

Founded in 1992, Miu Miu is named after Miuccia Prada, the granddaughter of Prada’s founder, Mario Prada. This brand was innovatively established as a more youthful and accessible alternative to its elder counterpart, Prada, and has been positioned as a sister brand ever since.

Property Ownership Overview

The building at 11 East 57th Street has been owned by media giant Hearst Corporation since 2002, which also maintains its headquarters in the nearby Hearst Tower at 300 East 57th Street.

For more insights and the latest updates in the real estate and fashion sectors, reach out to Isabelle Durso at id****@****************er.com.