The 15 costliest real estate deals of the past year on Madison and Fifth Avenues,and 57th Street, based on ground floor rent per square foot.
Luxury brands continue to jockey for position on Fifth and Madison Avenues,and 57th Street,undaunted by the steep rents.Here,the top 15 real estate deals based on ground floor rent per square foot.Stores also leasing less expensive upper floors and basement space bring down their average cost per square foot.Note that LVMH Moët Hennessy Louis Vuitton has purchased the entire nine-story building,which housed the Warner Bros.store on Fifth Avenue and 57th Street for a reported $100 million.The company plans to open a 15,000-square-foot flagship for Louis Vuitton.Burberry will open a six-level flagship at 7-9 East 57th St.in a property it purchased that reportedly cost between $15 million and $20 million in October.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)