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

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