The Real Deal New York

Highest retail rent ever paid in New York City?

February 21, 2012 06:30PM

From left: Mac Cosmetics' products and 691 Fifth Avenue

Mac Cosmetics has signed a lease for 1,400 square feet at Vornado Realty Trust’s 691 Fifth Avenue, for an undisclosed amount that constitutes the highest retail rent ever paid in New York City, Retail Traffic reported.

The space, which was previously home to Elizabeth Arden’s Red Door Spa, has been marketed since April. Last year, several brokers told The Real Deal that the asking rent was $3,000 per square foot.

The space, between 54th and 55th streets, is across from the previous record-holder, Uniqlo, which agreed to pay $300 million over 15 years for its space at 666 Fifth Avenue, which is owned by Kushner Companies, Crown Acquisitions and Carlyle Group. [Retail Traffic]

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