Tiffany will pay up to $250M to renovate flagship store

The high-end shop will expand into space left by Niketown at 6 East 57th Street

New York /
Aug.August 15, 2018 09:33 AM

The Tiffany Flagship store at 6 East 57th Street and Donald Trump Jr. (Credit: iStock and Getty)

Jewelry store Tiffany & Co. announced on Tuesday a major renovation and expansion plan of its flagship Manhattan store at the Trump Organization‘s 6 East 57th Street, located directly next door to Trump Tower.

Bloomberg reported the 10-floor shop’s overhaul could end up costing $250 million. Construction is set to start next year and conclude by the fourth quarter of 2021.

During the renovation, Tiffany will temporarily shift some of its operations into space left by Niketown in the building next door, also owned by the Trump Organization.

Tiffany’s Manhattan store at 727 Fifth Avenue accounts for 10 percent of the company’s overall sales revenue, according to Bloomberg. The often chaotic stream of protestors and tourists during the 2016 presidential election that came with significant police barriers and security checkpoints has at times made getting foot traffic in from the street trickier for the shop over the last two years. [Bloomberg] — Will Parker

 

Related Articles

arrow_forward_ios
Wharton Properties’ Jeff Sutton with 1551-1555 Broadway
Sutton faces foreclosure on Times Square American Eagle
Sutton faces foreclosure on Times Square American Eagle
U.S. Treasury Secretary Janet Yellen
NY gets more federal rent aid — but only 6% of need
NY gets more federal rent aid — but only 6% of need
Commissioner of the Division of Housing and Community Renewal's RuthAnne Visnauskas (Getty, NY Gov)
Rent stabilization complaints piling up at agency
Rent stabilization complaints piling up at agency
Beanie Babies founder Ty Warner and 57 East 57th Street (Getty Images, MBandman, CC BY 2.0 - via Wikimedia Commons)
Owner’s feud with Four Seasons leaves Midtown hotel in limbo
Owner’s feud with Four Seasons leaves Midtown hotel in limbo
WeWork CEO Sandeep Mathrani (Getty Images, WeWork)
WeWork stock has taken a WeDive. Will it resurface?
WeWork stock has taken a WeDive. Will it resurface?
Cartier's Cyrille Vigneron and 653 Fifth Avenue (Cartier, Linkedin, Getty)
Cartier betting on appetite for luxury with US retail expansion
Cartier betting on appetite for luxury with US retail expansion
Gale Brewer (Getty, Gale Brewer)
City takes aim at landlords’ empty retail space
City takes aim at landlords’ empty retail space
SL Green chairman Marc Holliday and One Madison Avenue (Getty Images, SL Green Realty Corp)
Franklin Templeton takes 347K sf at SL Green’s One Madison Avenue
Franklin Templeton takes 347K sf at SL Green’s One Madison Avenue
arrow_forward_ios

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

Loading...