Sephora to open flagship in Times Square

Cosmetics company Sephora has signed a lease for 13,000 square feet of space at the Ernst & Young building, at 5 Times Square, between 41st and 42nd streets, the Post reported. The flagship store will be three floors, and the asking rent was more than $4.5 million per year. Sephora already operates a 3,000-square-foot shop nearby, at 1500 Broadway, at 43rd Street, as well as several other locations in Manhattan.