The Real Deal New York

The Chanel flagship will be two things: classy and fabulous

Fashion house plans $3.8M renovation at 15 East 57th
By E.B. Solomont | August 25, 2016 02:10PM

Chanel’s Manhattan headquarters and flagship boutique are getting a $3.8 million touch-up.

The Parisian fashion house filed plans to renovate the exterior and interior of 15 East 57th Street, the 17-story building that Coco Chanel’s namesake firm has occupied since the early 1990s, according to plans filed Thursday with the city’s Department of Buildings.

Plans call for expanding the retail space — currently situated on the first and second floors — to the first through seventh floors. The upper floors of the building will contain a combination of retail, office and storage space, according to filings.

Located between Madison and Fifth avenues, 15 East 57th encompasses a total of 53,888 square feet, with floor plates measuring roughly 4,300 square feet.

Chanel moved into the building in 1993, when it leased the then-six story building from owners Edward and Barbara Munves, who also owned several antiques galleries that previously occupied the building, according to the New York Times.

The building was expanded to 17 stories in 2006.

Chanel currently occupies the entire building and in addition to its retail operation, it has a salon, showrooms and offices there. (Plans filed with the city on Thursday no longer include — gasp! — a salon or dining room.)

In addition to its presence at 15 East 57th, the French fashion company owns a retail co-op at 733-739 Madison Avenue, which it bought for $123.8 million in 2014.

The company, which Forbes recently valued at $7.2 billion, also occupies more than 177,000 square feet at the Solow Building, where it has offices for 170 employees. Chanel inked a 15-year lease at 9 West 57th Street in April 2015, according to CoStar.