The 8700 sq. ft. space at 677 Fifth Avenue, which was previously occupied by Fendi, might be Microsoft’s first ever New York City retail store. This is just a few blocks away from Apple’s Fifth Avenue store. The software giant wants to setup a permanent store near one of its competitors’ most iconic locations, reports New York’s Daily News.
“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.”
In the past as well Microsoft has opened its few retail stores much closer to Apple stores to go head-on with its competitor. The rent for ground floor stores on Fifth Avenue is about $3,500 per square foot, so Microsoft would be paying close to $30 Million.