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Andrew Schulman
Andrew Schulman
PRINCIPAL | Capricorn Retail Advisors
New York, NY, USA
Bio
Andrew Schulman is a Principal of Capricorn and oversees our High Street and Project Leasing division. He is an industry veteran with over 35 years of shopping center leasing experience with national and international developers including Westfield, Inc., Thor Equities and the UK based McArthurGlen Group. He has leased every retail asset class including strip malls, high street locations, super regional malls and designer outlet centers located in major cities in The US, Puerto Rico, Canada and Mexico. In his career, Andrew has negotiated over 2,500 leases valued at over $800,000,000.​ At McArthurGlen, which is Simon Property Group’s European outlet partner, Andrew was responsible for overseeing the leasing of a 243,000 sf ground-up development located in Vancouver, BC. McArthurGlen Designer Outlet Vancouver opened in July, 2015 and and is the highest performing outlet in Canada on a ps basis and was voted Best New Outlet Center at the Mapic Conference in Cannes, France. Andrew negotiated leases with over 70 national and international retailers, merchandised from moderate to luxury, and took this project from inception to opening.​ In 2003, Andrew was hired by NY developer Thor Equities as Executive Vice President of Leasing, responsible for overseeing all aspects of leasing for their entire portfolio which included high street and big box locations on 5th Avenue, Soho, Miami, Los Angeles, San Francisco and Mexico City. Additionally, Andrew supervised the expansion and renovation of 5 enclosed regional malls adding new department stores, big boxretailers and specialty stores. Over the course of his 10 years at Thor, he negotiated leases with high-end brands such as Ferragamo and Corneliani as well as other retailers including J. Crew, Aldo, Banana Republic, Marshalls, Target, Macy’s and All Saints. Andrew also served on the Thor Acquisition Committee reviewing the potential acquisition of properties, providing analysis of current market rents, re-merchandising and all other aspects of due diligence. Andrew participated in the acquisition of over 20 properties seeing Thor’s growth from under 1 million square feet to over 15 million square feet.​ As Vice President of Leasing for Westfield, Inc. Andrew was responsible for overseeing the leasing of such prominent properties as Garden State Plaza in Paramus, NJ; Trumbull Shopping Park in Trumbull, CT; Meriden Square Mall in Meridan, CT; Connecticut Post Mall in Milford, CT; and South Shore Mall in Bayshore, NY. In his 12 years at the company, Mr Schulman negotiated leases with retailers such as Armani, Louis Vuitton, Coach, Sephora, Ann Taylor, Victoria’s Secret, Abercrombie & Fitch, F21, Disney, Steve Madden, Williams-Sonoma and many others. He oversaw the leasing of over 10 renovations and expansions which included food courts, kiosks and pad sites as well.​ Andrew was Westfield’s highest producing leasing representative when he left in 2003. Andrew is a graduate of the University of Michigan and a long time member of The International Council of Shopping Centers.

Brands I Currently Represent

Properties I Represent

News & Alerts
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The demand by retailers for space on Madison Avenue remains very strong. The interest is mainly from high end jewelers and luxury and contemporary brands. Recent deals include:

753 Madison Avenue (NE Corner 65 St)-Frank & Eileen

Signed Q3, 2025

761 Madison Avenue (65/66 midblock)-Cult Gaia

Signed Q4, 2025

789 Madison Avenue (SE corner at 67)-Pasqual Bruni Jewelers

Q3, 2025

892 Madison Avenue (72nd St) Thom Browne Men’s & Women's (separate shops)

Q2, 2025

1013 Madison Ave (78/79 St)-Doen

Signed Q3, 2025

1133 Madison Avenue (84/85 St)-Favorite Daughter

Signed Q3, 2025

Please let me know if you would like more information regarding market rents, etc.

3 months ago

Charles Tyrwhitt, a British menswear brand, has signed a long-term lease to move its Madison Avenue store up the street. The 3,800-square-foot space, located at 477 Madison Ave., was previously occupied by Express.

Charles Tyrwhitt will be relocating its 1,800-square-foot store at 377 Madison Ave. to this new address in the third quarter. Asking rent was $400 per square foot.

Founded in 1986 by Nick Wheeler, the British menswear brand specializes in high-quality, timeless clothing, according to the statement. This will be its sixth Manhattan location.

8 months ago

Luxury brand Loewe has signed a lease to open a multi-level store of approximately 14,000sf at 694-696 Madison Avenue. This area, between 62nd & 63rd is considered the strongest part of the Madison Ave for luxury brands as it sits next to the Hermes flagship.

https://newyorkyimby.com/2025/01/lpc-to-review-proposal-for-694-696-madison-avenue-in-manhattans-upper-east-side.html

9 months ago

A very interesting article from Forbes on why jewelers have gravitated to upper Madison Avenue. Maybe less footfall than 5th Avenue, but a more focused shopper, both international and local, who is ready spend.

https://www.forbes.com/sites/katematthams/2025/05/07/why-the-cool-girls-are-heading-to-madison-avenue-for-jewelry/

9 months ago

An blub from an article from NY Magazine about the new retail stores on Madison Avenue, between 69th Street to 81st Street.

https://nymag.com/strategist/article/upper-east-side-madison-avenue-new-stores.html

9 months ago

Below-grade work is rapidly progressing at 1122 Madison Avenue, the site of an 18-story residential building on Manhattan’s Upper East Side. Designed by Hill West Architects and developed by Legion Investment Group and Nahla Capital, the 210-foot-tall structure will span 86,000 square feet and yield 22 condominium units with an average scope of 3,500 square feet. The property is alternately addressed as 22 East 84th Street and located at the corner of Madison Avenue and East 84th Street.

10 months ago