NEW YORK CITY—The iconic lingerie brand has revealed plans to open a big flagship store at 640 Fifth Ave. The 63,780-square-foot site, at 51st Street, will have 78 feet of frontage on Fifth Avenue and three selling levels. It is expected to open in November of 2016 and the lease is for 16 years.
The landlord, Vornado Realty Trust, retains an adjacent 3,230 square foot store with 25 feet of Fifth Avenue frontage available to lease. The building spans 327,000 square feet and is 22 stories high.
The new Victoria's Secret will share 640 Fifth Ave. with Owl Creek Asset Management, an investment advisory firm which signed a lease earlier this year for 17,588, according to the Commercial Observer. Other tenants include HS Management Partners, Hitchwood Capital Management, Greentech Capital Advisors, Exane and Fidelity Investments Real Estate.
Vornado is no stranger to the world famous retail corridor of Fifth Avenue. The REIT's properties there include 697-703 Fifth Ave., 689 Fifth Ave., 666 Fifth Ave., 655 Fifth Ave., 640 Fifth Ave., 608 Fifth Ave. and 510 Fifth Ave.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
