The Real Deal New York

West 34th Street retail joins the $1K per sf club

April 23, 2013 01:15PM

Retail rent in the West 34th Street neighborhood has now officially topped $1,000 a square foot, Crain’s reported.

Swiss watch maker Swatch Group just inked a 10-year deal for 1,800 square feet at 112 West 34th Street, where the asking rent was $1,000 per square foot. The storefront, Between Broadway And Seventh Avenue and directly across from Macy’s, formerly housed a Billabong clothing store.

Brad Mendelson and Alan Schmerzler of Cushman & Wakefield represented Swatch in the deal and Joanne Podell and Ian Larner of C&W represented the landlord.

Though growing, the $1,000-a-square-foot club is still exclusive. The other neighborhoods commanding the big bucks are Fifth Avenue, Times Square, Madison Avenue and Soho. [Crain’s] –Hayley Kaplan