Goodbye Macy’s, hello Apple.
Apple will pierce into a 11th through 14th floors of a Art Deco building and has additional options for a 9th floor, sources pronounced of a deal, that The Post initial reported was entrance in January. The midtown Manhattan building sits on whole eastern blockfront along Seventh Avenue between West 31st and 32nd streets, cater-corner to Madison Square Garden and a Penn Station railway hub.
The understanding is being finished directly with building owners Vornado Realty Trust for a apportionment of a floors now being leased by Macy’s. The dialect store is relocating a domicile to Long Island City and a remaining space of over 300,000 block feet is adult for sublease with pricing in a mid-$60s per foot.
But sources contend Apple has sealed usually a five-year understanding with a choice to extend, and that Macy’s is still on a offshoot for any remaining tenure in a lease, that runs into 2035.
It also suggests that Apple is still on a hunt for a some-more permanent location, preferably one with vast floorplates.
“Although it has a pleasing complicated domicile in Cupertino, Calif., and had toured a new buildings around Hudson Yards, Apple fell in adore with 11 Penn,” a source told a Post.
As The Post reported final year, a mechanism association had been opposed for space in Vornado’s reinvention of a circuitously Farley Building on tip of a post office. But it mislaid out to Facebook, that is now low into franchise negotiations.
Apple was represented by Peter Riguardi and Martin “Mack” Horner of JLL while Vornado was represented by Glen Weiss. Macy’s was represented by a CBRE group of Scott Gottlieb, Liz Lash and Ross Zimbalist and is doing a remaining sublease, that runs by Apr 30, 2035.
Apple now has 52,000 block feet during 100-104 Fifth Ave. in a Flatiron District where it is ripping during a seams.
None of a parties concerned could be reached for comment.