Prime 650 Fifth Avenue retail space could soon hit the market

TRD New York /
Nov.November 09, 2013 12:00 PM
 

Some 17,000 square feet of prime retail space at 650 Fifth Avenue may soon hit the market, as the former parent company of the current tenant, Juicy Couture, decides whether to let go of its real estate.

Earlier this year, apparel giant Fifth & Pacific sold the rights to Juicy Couture for $195 million, and it is now left with the 650 Fifth Avenue flagship, as well as space on Madison Avenue and Bleecker Street. Nationally Juicy’s 126 stores will mostly be converted to Lucky Brand or Kate Spade shops, but Fifth & Pacific CEO William McComb has said that the company has not yet decided if it will keep the flagship at the corner of West 52nd Street, according to Crain’s.

“We are exploring opportunities to unlock value associated with the Juicy Couture store on Fifth Avenue,” McComb in a statement said. “We believe proceeds from a transaction resulting in exiting this lease are likely to materially improve the total net proceeds resulting from our decision to sell and exit the Juicy Couture business.” [Crain’s]Christopher Cameron


Related Articles

arrow_forward_ios
Clockwise from top left: 312 West 34th Street, 61 North 9th Street, 639 Classon Avenue, and One Fulton Square (Credit: Google Maps)

These were the top 10 NYC retail leases in July

From top, clockwise: Cushman & Wakefield's Joanne Podell, Showfields' Amir Zwickel, Appear Here's Josh Yentob, Brookfield Properties's Mark Kostic (Credit: Getty, LinkedIn)

When it comes to retail, “real estate in New York is fundamentally broken”

ICSC’s annual New York show will feature twice as much programming as in years past.

Here’s what to expect at ICSC’s 2019 NYC event

Renderings of The William Vale and Denizen Bushwick with a Tel Aviv Stock Exchange ticker

All Year eyes sale of William Vale to pay off bonds

Target ads (right) seen on the corner of 42nd Street Eighth Avenue (Credit: Google Maps)

Target sets bullseye on Times Square with new lease

Breather CEO Bryan Murphy (Credit: LinkedIn and iStock)

Breather bloodbath: Flex-office startup fires 17% of staff

Stephen Levin, REBNY's Jim Whelan and Brad Lander (Credit: Getty Images)

The bill that won’t die: Will commercial rent control finally pass?

Federal Realty Investment Trust CEO Donald C. Wood and Georgetowne Shopping Center (Credit: Google Maps)

Fairway-anchored Bergen Beach shopping center sells for $85M

arrow_forward_ios