Fifth Avenue’s latest high-end tenant has moved in.
Italian fashion designer Valentino opened his new U.S. flagship store, which includes three floors of men’s and women’s clothes, along with accessories, spread across 20,000 square feet.
The new store is located at 693 Fifth Avenue, between 54th and 55th Streets, close to other iconic retailers such as Tiffany & Co. and Saks Fifth Avenue.
Developer Joe Sitt bought the 20-story commercial building in 2010 for $142 million. A Takashimaya store used to be housed there. It took the developer three years to sign a tenant. [WSJ] — Claire Moses