Thor/General Growth File Permits to Add New Office Space Atop Fifth Avenue’s Upcoming ‘Coach House’
Part of its overall marketing plan to reinvent itself, Coach has leased space at 685 Fifth Avenue for a new flagship location to be called “Coach House.” As outlined in new DOB filings and renderings, the luxury retailer will occupy a three-story corner portion at the base of the building, amounting to 23,400 square feet. As part of the property’s transformation, floor area from the lower levels will be removed and redistributed to the top of the 20-story building, providing five new floors of office space and raising the building’s height from 227 feet to 292 feet.
According to Bloomberg, General Growth Properties Inc. and Thor Equities LLC paid $460 million in 2014 for the 140,000-square-foot building at Fifth Avenue and 54th Street, enlisting Marin Architects as the architects of record for the redesign. Coach Chief Executive Officer Victor Luis said in a statement, “With a bespoke facade and modern luxury interior, it will provide an appropriate showcase for the full expression of our women’s and men’s collections.” The company will be paying roughly $4,000 a square foot in rent, about right considering this stretch of Fifth Avenue is the world’s most expensive shopping thoroughfare. Coach House is expected to open in the fall, but until then here’s the marketing video:
685 Fifth Avenue | Presented by Thor Equities and GGP from Thor Equities on Vimeo
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