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

TRD 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
20 West 33rd Street (20West33rd)

Furnishing firm picks up 4 condos at 60 Guilders, Carlyle’s Midtown South project

Furnishing firm picks up 4 condos at 60 Guilders, Carlyle’s Midtown South project
Bank OZK CEO George Gleason (Unsplash; Bank OZK)

Bank OZK’s lending up in third quarter

Bank OZK’s lending up in third quarter
Gap CEO Sonia Syngal (Getty)

Gap Inc. will close 350 stores and exit malls entirely

Gap Inc. will close 350 stores and exit malls entirely
Steve Cohen and Citi Field (Getty)

Citi Field lease clause could stymie billionaire’s quest for the Mets

Citi Field lease clause could stymie billionaire’s quest for the Mets
Consumers are using streaming services more than ever, and data center real estate is booming (iStock)

Real estate for data centers is having a moment

Real estate for data centers is having a moment
Paul Manafort and Manhattan district attorney Cyrus Vance, Jr. (Getty)

Manafort mortgage-fraud case dismissed, again

Manafort mortgage-fraud case dismissed, again
Howard Hughes’ Saul Scherl and a rendering of 250 Water Street (Getty, The Howard Hughes Corporation/SOM)

Howard Hughes to launch review process for $1.4B Seaport tower

Howard Hughes to launch review process for $1.4B Seaport tower
Data on third quarter CRE investments suggests a nationwide improvement, but Manhattan has been slow to recover (iStock)

NY falls behind Dallas, LA in CRE investment as deals surge nationwide

NY falls behind Dallas, LA in CRE investment as deals surge nationwide
arrow_forward_ios

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

Loading...