Dolce & Gabbana has snagged a distinctive spot on Madison Avenue. 

The Italian fashion house signed for the 23,000-square-foot retail property at Tahl Propp Equities’ 695 Madison Avenue, The Real Deal has learned. The deal comes after the space’s first availability in 25 years. 

Representatives for Dolce and Gabbana did not return multiple emails seeking comment. 

The five-story building sits on the northeast corner of East 62nd St. Marketing materials show the property has 4,900 square feet on the ground and second floors, 4,200 square feet on the third and fourth floors and a 5,000 square feet on the lower level. 

It includes a dramatic interior staircase, skylights and a 700-square-foot terrace wrapping the third floor.

The corner property has more than 60 feet of frontage on both Madison Avenue and 62nd Street.

The Hermes women’s store vacated the property last year for a move across the way, to 706 Madison Avenue.

The annual rent for the entire building is roughly $12 million a year, according to people familiar with the market.

Matthew Seigel led a Lantern Company team that represented the Tahl Propp ownership. Neither returned requests for comment.

“Madison Avenue continues to display incredible recovery and vacancy rates have gotten so tight there is so little inventory compared to two years ago,” said Buchbinder & Warren’s William Abramson, a broker who was not involved in this transaction.

Dolce & Gabbana currently has a boutique at 827 Madison on the southeast corner of E. 69th Street and a children’s shop across the avenue, at 820 Madison. There’s also an 18,400-square-foot flagship at 717 Fifth Avenue that was leased in 2011 under a 15-year deal.

After renovations, it is unclear if the brand will consolidate in the new digs or keep any of the other stores open.  

Elsewhere along the shopping corridor, Armani is building its new flagship on the northwest corner of 65th Street; Versace opened at the southeast corner of East 65th Street in the former Givenchy, which moved to 625 Madison Avenue. Valentino is moving from 761 Madison Avenue to the former Calvin Klein at 654 Madison Avenue.

Matthew Bauer, president of the Madison Avenue Business Improvement District said the Italian trade commission has previously produced an event called Italy on Madison Avenue and has supported the retailers along what he called “the Italian Mile.” 

The fashion house was founded in Legnano, Italy, in 1985 by Domenico Dolce and Stefano Gabbana and opened its first store in 1986. 

Its new landmark digs were designed by architects McKim, Mead & White in 1927. It was restored in 1984 by Bleyer Blinder Belle with a two-story rooftop addition and updated in 2000 with the central five-story curvilinear steel staircase and giant skylight.  

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