The Real Deal New York

From the March issue: A glossy glass exterior that bathes the space in natural light, white marble floors, and shelving and display cases in warm polished gold: The new Gucci flagship at 725 Fifth Avenue in Trump Tower is not only an unabashed shrine to luxury, but, according to brokers familiar with details of the renovation, likely the most expensive store build-out ever on Fifth Avenue. The rent is also steep. Brokers familiar with the deal say Gucci is paying above $1,500 per square foot for the 6,200 square feet it occupies at ground level. If so, that marks a record. “It’s a record for the gross value of a lease for a specialty store in the city,” said Andrew Goldberg, executive vice president of CB Richard Ellis.