Swarovski to Open Fifth Ave. Flagship Store
The luxury retailer has signed a 14,000-SF, long-term lease at 680 Fifth Ave. and plans to open the store in 2023 following an office lobby-to-retail repositioning.
NEW YORK, NY – Swarovski has signed a 14,000-square-foot, long-term lease to open a flagship store at 680 Fifth Ave. in Manhattan.
Located on the corner of 54th St., the two-level store will feature more than 150 feet of double-height wrap-around exposure and frontage.
The building will immediately commence a repositioning and renovation to relocate the property’s office lobby from Fifth Ave. to 54th St. The repositioning will additionally include adding a brand new façade on the property’s first three levels. The new storefront will feature Swarovski’s brand image and colors.
Following the office-to-retail transformation, Swarovski plans to open the flagship store in 2023.
Valor Capital Partners principal Roy Bajtel, who manages the asset on behalf of the landlord, will oversee the capital project to reposition the asset.
“Swarovski is going to be the anchor of the redevelopment at 680 that will improve the long-term viability of the office building well into the future,” states Bajtel. “We are so pleased that they have chosen this location to showcase their Wonderlab concept, which is a new chapter for this well-established brand that dates to 1895,”
Cushman & Wakefield’s Laura Pomerantz and Steven Soutendijk served as the brokers for the long-term lease transaction. Pomerantz and Soutendijk will represent the building on its remaining vacant space.