|

Meet the woman who decides where you shop
By Jason Sheftell, Daily News Real Estate Correspondent
When Faith Hope Consolo goes shopping,
she shops for more
than just clothes. She
shops for store space. Consolo, the
chairman of the Retail Leasing and
Sales Division for Prudential Douglas
Elliman, is the top retail broker in
the United States. As a retail broker,
Consolo finds locations for stores and
leases space to retail brands in New
York and beyond.
One of the first women in the retail
real estate industry, Consolo has
been at it since 1985. Her first day on
the job, she dialed the numbers of all
the stores she loved that didn’t have
a strong city presence.
“I just started calling the chairmen
of all these companies,” says Consolo,
working at the time for a small
retail brokerage house on 57th St. “I
traveled. I loved to shop. I knew what
would work here.”
She dialed Godiva , her favorite
chocolatier that was slowly building
a name for itself in the United States,
selling to high-end department stores
and boutique food shops.
“I made an appointment to drive to
Pennsylvania three days later to visit
the president of the company in the
warehouse,” she says. “He was happy
with the way things were progressing.
I told him he could be happier.”
The meeting went well. Consolo
walked out with an agreement to
give the brand a more visible retail
presence in New York City and beyond.
Within eight months, Godiva
was on its way to 48 stores across
the United States.
Pleased with Consolo’s work,
Godiva referred her to a new soap
company. Crabtree & Evelyn became
her next big client.
“Without a store in New York,
you are not on the radar screen for
the big time,” she says sternly. “The
Wall Streeter who creates giants, the
press who make things hot, they are
all right here. You need them to see
you every day if you want to make it
really big.”
They don’t call her the Queen of Retail
for nothing. Now, in a position and
division created solely for her by Prudential
Douglas Elliman, Consolo and
her team place the top retail brands
in the top locations. Chanel, Brooks
Brothers, Barney’s CO-OP, Valentino,
Marc Jacobs, Searle, Armani, Versace,
Dior, Paul Smith. You name it, Consolo
has likely found retail space for it. She
deals with the chairmen of companies,
the founders, and for fashion, the designers
themselves.
“When Georgio [Armani] wanted to
move to New York, he called and asked
for a store in an area that had a little
edge,” she says. “I put him on lower
Fifth Ave., which I started calling the
Fashionable Flatiron. Paul Smith was
the only one there then. He was actually
the first to go into that neighborhood.
It was nothing but delis and dry
cleaners then.”
Consolo has more stories than
most fiction writers. All hers
are true.
“Retailers are like sheep,”
she says. “When one comes, the rest
of them follow. And a good retail
broker can make a brand as well as
a street.”
In some ways, she’s a walking and
talking “American Idol” for the retail
industry. She found the beauty store
Fresh when it was a local Boston
boutique founded by a former window
washer.
“The store was on Newberry St., but
away from the rest of the retailers,”
she says. “I liked their product line
and thought the store was smart in itspresentation. The owner was behind
the counter.”
Consolo soon placed Fresh on New
York’s Bleecker St., a growing downtown
corridor where she had just put a
young fashion sensation named Marc
Jacobs. Eight years later, Fresh was
bought by the luxury group LVMH. It
now has 15 stores worldwide, ranging
from Las Vegas to Seoul. Lev Glazman,
the former window washer, is currently
worth millions.
Fashion designer Jacobs, who had
the guts to be one of the first big
brands on residential Bleecker St.,
originally paid $50 per square foot
for his first store. Ralph Lauren, Juicy
Couture, Cynthia Rowley, Intermix,
and James Perse all followed Jacobs
to the area, where he now has three
stores with a fourth on the way. The
rent on the street today tops out at
$500 per foot.
“Bleecker St. reminded me of the
Marais in Paris,” says Consolo, who had
one of her top agents ring neighborhood
apartment buzzers to get information.
“Once the neighborhood got
hot with all those bankers moving in,
it was only a matter of time before it
needed the upscale stores. It already
had the artists.”
This is Consolo’s third career. After
college at NYU, she ran a successful
modeling agency titled Supergirls. The
cosmetic giant Max Factor became a
major investor. Soon after, she graduated
Parsons School of Design and
started an interior design business in
Beverly Hills.
“That never grabbed me like this,”
she says. “This is
about trends, people,
neighborhoods and
brands.”
Consolo reads 20
periodicals a day, including
newspapers
from around the world,
fashion magazines and
retail trade publications. Her office is a
library of art and travel books, memos
piled a foot high on her desk and floor,
and maps of neighborhoods from Palm
Beach to Park Slope. When she travels,
she shops before checking into hotels.
She walks cities like most people hike
mountains, with a purpose and an eye
for beauty.
“My clients say I never close,” she
says. “Who has time for that?”
Much more direct than most big
developers I’ve interviewed, Consolo
has a human side. She shed a tear
when she spoke of her childhood. Her
father died when she was 2, her mother
when she was 12. Both were psychologists.
Her grandmother raised her.
“I have always done what I had to
do,” says Consolo, married three times
and currently single.
Faith Hope Consolo is her given
name. She never changed it despite
the marriages.
“If I don’t change my name, I
don’t have to change any monograms,”
she laughs.
Her office is on the third floor,
overlooking Madison Ave. and 57th
St. She can see the three levels of the
Dahesh Museum of Art , a deal she
made happen. She wears designer
dresses from Narciso Rodriguez and
Chanel, and tasteful diamonds on her
watch and on her ears. Living on 62nd
St. between Madison and Fifth Aves.,
she is around the corner from Barneys
and the Judith Leiber shop, a store she
is particularly proud of.
“I had to go to Leona Helmsley’s apartment building and wait in the
lobby with samples of Judith’s work until
Leona would see me,” says Consolo.
“Her lawyers were not negotiating, so
I went right to the source. Leona, who
I knew, loved the idea. Of course she
wanted Judith. I walk by that store every
day on my way home.” There are
more gems in her story repertoire.

“Everyone thinks Cartier owns their
building on Fifth Ave.,” she says . “They
don’t.” According to Consolo, the building
at Fifth and 52nd St. is owned by the
Alexander S. Onassis Foundation, the
multi-billion-dollar charitable organization
and business
empire established by
Aristotle Onassis for
his deceased son.
When Cartier’s 75-
year lease was up for
renewal in the late
1990s, the men running
the foundation, known
in worldwide business circles as “the
Beards,” contemplated giving the lease
to Viacom for an MTV store. On behalf
of Cartier, Consolo flew to Greece to
“convince” the “Beards” that Cartier
was a New York institution anchoring
the popular street. They agreed, and
Cartier kept its flagship U.S. store.
A recent Consolo brand to
watch includes Sermoneta ,
a glove store she found while
walking the streets of Rome.
Its first New York store just arrived on
Madison Ave. and 58th St. Multi-colored
gloves dress up white walls.
“My mother used to buy me gloves
in Rome when I was a child,” says Consolo.
“New York needed a good glove
store.” Apparently so does Chicago,
Las Vegas and Los Angeles, where
she has plans to take them next.
What about trends.
“Last year was shoes,” she says.
“This year, it’s handbags. It was
jewelry a couple of years back. There
are 24 jewelry stores on Madison
Ave. between 57th and 81st Sts. Even
I couldn’t have predicted that.”
She could talk forever. How can
you tell a neighborhood is going to
change? I ask.
“Fashion follows food,” she says.
“If there are restaurants, stores
are coming.”
|