Microsoft closing in on Fifth Avenue storefront

Lease would put the tech giant just a few blocks south of Apple's flagship

New York /
Aug.August 07, 2014 08:30 AM

Microsoft could soon be throwing down the gauntlet on the nation’s priciest strip for retail rent.

The software and tech titan is in talks to occupy the 8,700-square-foot, two-floor space at 677 Fifth Avenue at 53rd Street, sources told the New York Daily News. If the deal goes through, Microsoft would set up shop just down the street from rival Apple’s flagship store.

“For Microsoft to Land On Fifth Avenue just a few blocks from Apple would certainly be interesting,” Faith Hope Consolo, a retail broker with Douglas Elliman, told the newspaper. “It would be very dramatic.”

Consolo, who is not involved in the talks, told the Daily News that Rents On Fifth Avenue have been topping $3,500 per square foot recently.

Luxury brand Fendi was the last tenant of the ground-floor space, which is owned by Hong Kong-based conglomerate King Fook, according to the newspaper. [NYDN]Tom DiChristopher


Related Articles

arrow_forward_ios
Microsoft CEO Satya Nadella and Chief people officer Kathleen Hogan (Getty; iStock; Microsoft)

Now Microsoft is joining work from home forever club

Now Microsoft is joining work from home forever club
The Crown Building (iStock)

Chopard moving flagship to Fifth Avenue

Chopard moving flagship to Fifth Avenue
47 Highland Park Village in Dallas, Texas and Valentino CEO Jacopo Venturini (Adam Stewart, Nick Hunt/Patrick McMullan via Getty Images)

Valentino expands in Dallas as it dumps NYC flagship

Valentino expands in Dallas as it dumps NYC flagship
Valentino store on Fifth Avenue and Valentino CEO Jacopo Venturini (Valentino, Nick Hunt/Patrick McMullan via Getty Images) 

Valentino sues to quit Fifth Ave — maybe forever

Valentino sues to quit Fifth Ave — maybe forever
300 Lafayette Street  and Microsoft CEO Satya Nadella (Credit: COOKFOX Architects; Nadella via Wikipedia)

Microsoft finalizes a big lease in Soho

Microsoft finalizes a big lease in Soho
Fifth Avenue takes another hit: Tommy Hilfiger is leaving its flagship

Fifth Avenue takes another hit: Tommy Hilfiger is leaving its flagship

Fifth Avenue takes another hit: Tommy Hilfiger is leaving its flagship
By the numbers: Fifth Avenue’s pricey retail rents have prompted luxury retailers to flee the tony stretch

By the numbers: Fifth Avenue’s pricey retail rents have prompted luxury retailers to flee the tony stretch

By the numbers: Fifth Avenue’s pricey retail rents have prompted luxury retailers to flee the tony stretch
Thor Equities is in a very precarious position at 597 Fifth

Thor Equities is in a very precarious position at 597 Fifth

Thor Equities is in a very precarious position at 597 Fifth
arrow_forward_ios

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

Loading...