New York’s Fifth Avenue may already be the most expensive retail street in the world, but MAC is willing to up the ante.
The cosmetics company is reportedly in talks to lease a 1,400-square-foot space at 691 Fifth Avenue at 54th Street…at a whopping $3,000 per square foot. If the deal goes through, MAC could end up paying the highest rent in Manhattan history. Rents on the ritzy street have been pushed to the high $2,000s, but $3,000 would be a record. (FYI, that’s $4.2 million for the whole place for just one year.)
This makes us feel slightly better about how much we pay for our tiny studio apartment. Sigh.