Lev Leviev will soon have some competition up on Madison Avenue.
Mauboussin, the high-end Parisian jeweler, has signed on for 8,400 square feet at 714 Madision Avenue, according to Newmark Knight Frank’s Amira Yunis. The building was formerly occupied by upscale women’s clothing store Shanghai Tang.
Founded in 1827, Mauboussin is one of the oldest jewelers in Paris. It will certainly have its work cut out it for itself at 714 Madison, where the rent comes in at just over $2 million for the year.
The block is rapidly becoming a jeweler’s haven as Mr. Leviev’s new retail diamond store will open just down the block at 700 Madison Avenue on Oct. 15. Back in June, a representative for the prolific Israeli businessman told The Observer that Mr. Leviev’s store will cater to the “young hedge fund professional who just got his bonus.”
No word yet on if Mauboussin is targeting that same demographic.