Ted Baker, the high-end clothing retailer that everyone and their momma is wearing- including our favorite Kardashian clan, will open a flagship store at 595 Fifth Avenue.
The U.K.-based company signed a long-term net lease for 12,000 square feet at the corner of 48th Street and Fifth Avenue, just down from retail icon Saks Fifth Avenue — and 12k square is humungous when we are talking about NYC.
Ted Baker will use three of the five floors of the building, which they will rent in its entirety, for retail, while the balance are for office and showroom uses. Just a block from high-profile tenants Michael Kors and LaCoste, the space could command up to $2000 per square foot, sources not affiliated with the deal speculated. “It’s so close to the center of everything, that a corner position like this [address]… is attractive to almost everybody. Ted Baker had an immediate vision and moved at an exceptionally fast pace,” said Mr. Kahn of Cushman and Wakefield who represented ownership with colleague Jonathan Scibilia.
As Ted Baker continues to invade NYC, we can look forward to more well-dressed ladies and gents on the streets, that for sure.