Gucci Renews Lease At Trump Tower On Fifth Ave
LEASED
New York
See Similar DealsRetail14,080 SF
Leased 02/24/2021
LEASED
Gucci Renews Lease At Trump Tower On Fifth Ave
725 5th Ave, New York, NY, USA
See Similar DealsRetail14,080 SF
Leased 02/24/2021
Summary
NEW YORK
Asset Type:Retail
Total Square Footage:14,080 SF
Transaction Type:Lease
The retail property located at 725 5th Ave. in New York City has recently been involved in a lease transaction.
Summary of transaction details
- Property Type: Retail
- Date: 02/24/2021
- Tenant: Gucci
- Landlord: Trump Organization
Gucci, the well-known luxury brand, has signed a lease renewal for the space at Trump Tower. The asking rent for this deal was undisclosed. However, according to a 2012 SEC filing, it was revealed that Gucci had been paying an annual rent of $18.7 million for the space, which equates to $384.40 per square foot.
The lease renewal at Trump Tower signifies the continued presence of Gucci in this prime retail location. With its prestigious address on 5th Ave., the property offers high visibility and foot traffic, making it an ideal choice for luxury brands like Gucci.
Details
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$807,057.10
Total Lease Value
$8,070,571.04
Net Landlord Cash Flow$807,057.10
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