According to reports, fashion retailer Coach has signed a lease for a 13,200-square-foot space at 645 5th Ave in Midtown. Some reports are conflicting over whether the fashion retailer will be moving its current flagship location at 685 5th Ave. or creating an expanded footprint in the area. Furthermore, Crain’s New York Business has reported that the current flagship location has been sent to special servicing over fears that the building owner will default on the mortgage. What Now New York has reached out for more information.
The recently signed lease covers 13,200 square feet across three different floors inside the Olympic Tower. With a presence on the ground floor, a new Coach store would become a structural linchpin along this retail axis, which includes a Saks Fifth Avenue store and Rockefeller Center. The Olympic Tower location had been home to art dealer Eden Gallery and an Armani Exchange.
