As Rock Center attracts more fashion retailers, commands higher rents

TRD New York /
Aug.August 27, 2012 10:00 AM

Tourists won’t be the only shoppers stampeding to Rockefeller Center if Tishman Speyer gets its way. Crain’s reported the landlord is remaking the retail at its iconic complex, in an effort to “bridge the gap” between the tenants of Fifth Avenue in the streets numbered in the mid-40s and those in the 50s.

Last week menswear shop Onassis opened at 30 Rockefeller Center, replacing a souvenir shop. This year apparel chain Free People and handbag company Longchamp also opened around the center, and Canadian fashion store Aritzia (replacing Espirit), Michael Kors (replacing Kenneth Cole at 610 Fifth Avenue) and hip coffee shop Blue Bottle have also signed on for spaces.

Crain’s said Rock Center draws 350,000 people per day, and half a million people during the holidays. Higher-end brands have increasingly responded to that, and are taking the place of mid-market stores that moved in at the turn of the century.

Now, the asking rent for the 21,600-square-foot Faconnable space that’s currently on the market, at 636 Fifth Avenue, is more than $1,800 per foot. Two years ago, asking rents were closer to $1,000 per foot, Crain’s indicated.

“There are a lot of like-minded retailers in one shot,” said Robin Abrams, executive vice president and retail brokerage Lansco. [Crain’s]Adam Fusfeld


Related Articles

arrow_forward_ios
Neiman Marcus at Hudson Yards and Geoffroy van Raemdonck (Getty)

Neiman Marcus exits bankruptcy $4B lighter

Neiman Marcus exits bankruptcy $4B lighter
A photo illustration of Mayor Bill de Blasio at a restaurant (Getty)

NYC’s outdoor dining program will become permanent

NYC’s outdoor dining program will become permanent
731 Lexington Avenue and 410 East 61st Street (inset) with Vornado's Steve Roth (Googel Maps; VNO)

Home Depot eyes former Bed Bath & Beyond space on First Ave

Home Depot eyes former Bed Bath & Beyond space on First Ave
CEO Mark Tritton and 410 East 61st Street (Getty, Google Maps)

Bed Bath & Beyond will permanently close UES store

Bed Bath & Beyond will permanently close UES store
Councilwoman Carlina Rivera (Getty, iStock)

City Council extends restaurant, retailer lease protections

City Council extends restaurant, retailer lease protections
Burlington CEO Michael Sullivan and 2163 Tilden Avenue (Burlington via Facebook; Google Maps)

Burlington Coat Factory inks big lease in Brooklyn

Burlington Coat Factory inks big lease in Brooklyn
NYC Hospitality Alliance’s Andrew Rigie and Mayor de Blasio (Hospitality Alliance; Getty; iStock)

City can’t afford to bail out restaurants: de Blasio

City can’t afford to bail out restaurants: de Blasio
From left: Michael Fuchs, Aby Rosen, Brandon Singer and Michael Cody (Getty, iStock)

Aby Rosen, Michael Fuchs back new retail brokerage

Aby Rosen, Michael Fuchs back new retail brokerage
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...