search

The Real Deal Logo

Trending

Glossier founder is buyer of $22M Brooklyn townhouseGlossier founder is buyer of $22M Brooklyn townhouseMichael Stern pays $61M for Brickell site of Dolce & Gabbana supertallMichael Stern pays $61M for Brickell site of Dolce & Gabbana supertall“I wouldn’t use it, I would just lock the door”: Landlords pan new rehab law“I wouldn’t use it, I would just lock the door”: Landlords pan new rehab lawBrookfield’s deal to sell 777 Tower in Downtown LA collapsesBrookfield’s deal to sell 777 Tower in Downtown LA collapses
New York

NYC’s priciest retail deals of 2015

From Swatch to Victoria’s Secret, this year set a new bar

<em>Illustration of top retail leases in Manhattan</em>
Illustration of top retail leases in Manhattan

From the December issue: For Victoria’s Secret, the journey to find a new flagship location in New York City took more than a decade.

Sign Up for the undefined Newsletter

But its patience seems to have paid off. In October, the company landed a lust-worthy new address: at Vornado’s 640 Fifth Avenue, near 51st Street. The multi-level 63,780-square-foot store is expected to open in November 2016.

The deal, which had an annual starting rent of $34 million, was the second most expensive retail lease in Manhattan of 2015, according to a ranking this month by The Real Deal. While retail rents are not publicly available, TRD pieced together the priciest deals by talking to sources involved in the transactions. [more]

Tags
Retail Real Estate