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Swatch Group looks to move into St. Regis retail space
Crown Acquisitions and Vornado paid $700 million for 24,800-square-foot condominium last year.
From left: Swatch Group CEO Nick Hayeck and the St. Regis retail condominium at 2 East 55th Street
The Swatch Group is looking to Open Up An Upscale Shop On Fifth Avenue.
The Swiss watchmaker is hoping to ink a lease at the southeast corner of East 55th Street and Fifth Avenue at the St. Regis Hotel’s retail condominium, according to the New York Post. Crown Acquisitions and Vornado Realty Trust paid $700 million for the 24,800-square-foot retail portion last year.
The store would sell the company’s upscale brands, such as Breguet, Harry Winston and Omega, the newspaper reported.
DeBeers, a purveyor of diamonds, currently occupies the duplex that Swatch is eyeing. Tag Heuer is located to the south of the location. Both DeBeers and Tag Heuer have four years left on their leases.
Cushman & Wakefield’s Bradley Mendelson is representing the Swatch Group. [NYP, 1st] — Claire Moses