For over 100 years the Elizabeth Arden Red Door Spa has called Fifth Avenue home and their former iconic retail space at 691 is up for grabs. It’s no secret the rent in the big apple comes at a big cost, and that prime retail Fifth Ave spots hold the more expensive retail thoroughfare in Manhattan, however that’s not stopping MAC Cosmetics who is looking to lease the pedestrian-heavy, ground floor space.
Word on the street is that MAC’s 1,400 square feet potential store-to-be has an asking price of more than $3,000 per square foot, which would cost the cosmetic brand at least $4.2 million in rental fees. 691 Five Ave is surely the filet of the neighborhood– Let’s just hope MAC can sell enough lipstick to last!
[NYMag]
