Apple likely to expand at GM Building on “temp” basis Tech giant in talks to take part of former FAO Schwarz space
The world’s most valuable company is looking to expand its iconic retail space at the GM Building in Midtown, but may have to settle for a temporary fix.
Apple is in talks with 767 Fift上海夜网 h Avenue’s owners – Boston Properties, Zhang Xin and the Safra Family – to take all or part of FAO Schwarz’ former 61,000-square-foot space, the New York Post reported, citing sou新上海贵族宝贝论坛 rces familiar with the negotiations.
Apple is looking to take over the space permanently, but is reportedly balking at paying market-rate rent, according to the Post. Rates for retail spaces in that section of Fifth Avenue range from about $2,700 to $4,450 per square foot, according the a recent Real Estate Board of New York report.
The landlords seem to have moved on, having entered into advanced talks with Nike to 爱上海龙凤419桑拿 take over the former toy store, The Real Deal reported last month.
Apple is reportedly looking to occupy the space, or part of it, in the meantime. [NYP] – Ariel Stulberg
Tags: apple, General Motors Building, nike
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