Barney's at 660 Madison Ave.
NEW YORK CITY—Reports were swirling that Barneys New York was going from size L to size M. The luxury department store was reportedly in talks to slim down, giving up possibly up to five of the nine floors it leases at 660 Madison Ave., wanting to trim its $30 million in annual rent, according to The New York Post.
Last August, following a protracted public dispute, an arbitrator ruled the landlord of the Madison Ave. property Ashkenazy Acquisition Corp. could nearly double the rent of the 275,000-square-foot retail space. The lease was due January 31, 2019.
On Monday, April 1, at 5:41 pm a spokesperson from Barneys emailed GlobeSt.com with the following statement:
“Barneys New York is committed to maintaining the footprint of its Madison Avenue flagship, and continuing to serve its customers within this iconic store. There are no active conversations regarding the store's footprint, and all statements indicating otherwise are false.”
We have updated our article originally posted on March 29, to provide this information.
Nonetheless, stores in Manhattan's world-renowned shopping district still seem to be following a brick-and-mortar drumbeat dirge. In January, Calvin Klein had announced plans to shutter its store at 654 Madison Ave. in spring 2019. News of Tommy Hilfiger, Henri Bendel and Lord & Taylor closing their iconic Fifth Ave. locations have also made waves in the retail landscape.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
