Microsoft is all set to hook up its first retail location in the New York City. The rumors have it that the company has its eyes, and the company is all set to open a store at ‘Fifth Avenue’ in New York City. The building that we are talking about has already had the experience of holding on a world famous brand. But the building was vacant for the last quite a few months or so after its tenant, Fendi left the spot last year. Considering the fact that the building has not had a show to put up in the last few months, it will be interesting to see the extent that Microsoft moves to for the site.
The Fifth Avenue is one of the most costly places to buy a site in Manhattan. This downtown part of Manhattan hosts an array of quite a few world famous brands. Interestingly, if Microsoft finally decides to get along with the site labeled as 677 on the Fifth Avenue, it will have Apple’s iconic Fifth Avenue showroom as their neighbors at just a walking distance of 5 minutes. There are many other retail stores as well, but if Microsoft launches its retail location, Fifth Avenue will surely end up boasting to icons of industry.
NY Daily News quoted:
“For Microsoft to land on Fifth Avenue, just a few blocks from Apple would certainly be interesting,” said Faith Hope Consolo, a top retail broker with Douglas Elliman, who was not involved in the deal. “It would be very dramatic.”
But buying the property will surely come under the radar of scrutiny from Microsoft. The location at the Fifth Avenue is not at all one of the simple posh surroundings in Manhattan. According to the statistics, the average price for a unit square foot is around $3000. To be specific, for the property, the price is $3500 per sq. ft. Thus, Microsoft will have to pay around about $30 million for 677 Fifth Avenue. This is certainly not cheap by any standards.
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