NEW YORK | 1 East 57th St (Louis Vuitton) | FT | FLOORS

[Ahoi]

https://nypost.com/2023/04/27/louis-...hattan-retail/

Louis Vuitton to build new flagship as luxury retail booms in NYC





By Lois Weiss
April 27, 2023

The opening of the new Tiffany flagship this month at 727 Fifth Ave., and the upcoming new Rolex tower at 645 Fifth Ave., are part of a Manhattan retail revival.

Leading the way, LVMH is planning an entirely new building for the northeast corner of Fifth Avenue and East 57th Street, which will become a glamorous new Louis Vuitton flagship.

Multiple sources tell The Post that LVMH has been hosting a “beauty contest” and interviewing “starchitects” to figure out who will design the next generation flagship offices and retail store for Louis Vuitton.

That’s one reason it signed a seven-year lease with Donald Trump to lease the 65,000-square-foot former Nike spot at 6 E. 57th St., which its own Tiffany’s brand is vacating right now as it moves back into its redeveloped flagship at The Landmark at 727 Fifth Ave.

LVMH intends to completely demolish both Louis Vuitton’s current and narrow 19-story structure, once home to the loopy Warner Bros. store, along with the smaller adjacent building to the north at 743 Fifth Ave., now occupied by its watch brand, Hublot

Louis Vuitton’s corner site does not have a height limit, experts say, and could be developed as-of-right with at least 122,700 square feet and perhaps nearly twice as much.

According to air rights consultant Brian Strout of TRIZ Advisory: “Any potential new larger building would just need to comply with the light and air setback requirements as you go higher.”

LVMH could also obtain transferable air rights from other properties, including the adjacent landmark at 5 E. 57th St. leased by its Kering-owned competitor, Yves Saint Laurent.

To come up with a project of around 230,000 square feet, M. Myers Mermel of Tenantwise, who also consults on air rights, suggests that along with a store and offices, LVMH could add a Soho House-like club, a restaurant and luxury spa to replace others that have closed nearby.

“A tower floorplate of an isosceles triangle could offer straight-on views of Central Park for the restaurant, spa, and hotel since the northern neighbor sets back above the 14th floor,” Mermel added of a new project with a potential height of roughly 34 stories. “The easiest path forward is just another stone blob to contain a block of retail alone, the solution which has been favored in that locale over the past century,” Mermel continued. “Let’s hope LVMH chooses to move us forward into the 21st century.”

One of the largest retail transactions this year was Louis Vuitton’s lease with Trump to take over the 65,000-square-foot former Nike space at 4-6 E. 57 St. for seven years — at what sources told The Post was a rent of $20 million — while the Louis Vuitton and Hublot buildings are demolished and rebuilt as one tower.

The fashion house’s sister LVMH company, Tiffany, has been subleasing the space connected to Trump Tower while the redevelopment of its own store on the southeast corner of Fifth Avenue is completed. Its grand opening is now scheduled for April 28.

[NYguy]

Multiple sources tell The Post that LVMH has been hosting a “beauty contest” and interviewing “starchitects” to figure out who will design the next generation flagship offices and retail store for Louis Vuitton.

Something nice should come of this.

[Crawford]

This should be a landmark tower. Fingers crossed that we really get something that impacts the Midtown skyline.

[NYguy]

^ I don't know if we would get something to impact the skyline, although if they went with a slender supertall with condos overlooking the park (its a good site for it) it could get some height.

Louis Vuitton’s corner site does not have a height limit, experts say, and could be developed as-of-right with at least 122,700 square feet and perhaps nearly twice as much.

Anything above 500 ft would be a plus. But for something with a design competition, I'm looking for a nicely designed tower for that corner.



https://www.instagram.com/p/CrhHHoOJzkv/

[Busy Bee]

Too bad Rump Tower isn't on the south corner of 57th as this would present the perfect opportunity to block nearly every units park views. Assuming we get a height close to TT or taller the straight north views will indeed be blocked... so a small victory at least.

[NYguy]

Whatever they decide to build, they've got 7 years to build it.

This building has been an eye-catcher at that intersection because of the artwork they put on it. Let's hope whatever design they come up with will be something eye-catching at least.




https://www.gettyimages.com/detail/n...?adppopup=true





https://www.gettyimages.com/detail/n...?adppopup=true





https://www.gettyimages.com/detail/n...?adppopup=true









https://www.shutterstock.com/editori...ifth-12766008q





• Video Link



• Video Link

[NYguy]

We'll see how this plays out here...


https://www.businessinsider.com/lvmh...ng-lost-2023-4

LVMH chief Bernard Arnault ordered a makeover for Tiffany's Fifth Avenue store after getting lost inside


Ryan Hogg
Apr 29, 2023

LVMH CEO Bernard Arnault got lost inside Tiffany's flagship New York store, which led him to order a complete revamp of the building that cost hundreds of millions of dollars.

In a rare interview with The Wall Street Journal, the world's richest person said he was given a tour of the Fifth Avenue store by a senior Tiffany executive as he was negotiating to acquire the luxury jeweler in 2019.

"We got lost in the building," Arnault said. "Here is a guy getting lost in his own shop. I said, 'We have some work to do on this.'"

Arnault ordered a complete revision to renovation plans that focused on the traditional dark wooden interior of the store when it first opened in 1940.

"We decided to stop this and do something else, which is more in line with the beauty and the myth which is Tiffany," he told the newspaper. "Tiffany is, I think, the most recognizable and the most mythical US brand in the world."

.....LVMH is thought to have spent hundreds of millions on the revamp, with the Journal quoting analysts who estimated the bill to be about $500 million.

When asked about that figure, Arnault told the Journal: "You cannot dream when you talk numbers. When you create desire, profits are a consequence."

https://www.livemint.com/companies/p...860524146.html

World’s Richest Man Likes the View Atop Refurbished Tiffany

wsj
April 30, 2023

As a young tycoon living in New York in the 1980s, Bernard Arnault quickly realized some of the most valuable real estate was located on the corner of Fifth Avenue and 57th Street. When he bought the building that houses the Louis Vuitton flagship store on the northeast corner, he got a close-up view of Tiffany & Co. across the street to the south.

“We said, maybe at one point we’ll have more than one corner," Mr. Arnault said in a rare interview from the glass-enclosed top floor of Tiffany’s newly renovated store, where he could gaze out and survey his domain. He now has three.

Mr. Arnault, chief executive, chairman and controlling shareholder of LVMH Moët Hennessy Louis Vuitton SE, has literally and figuratively cornered the luxury-goods industry. With the acquisition of Bulgari in 2011, followed a decade later by Tiffany, the only corner of the gilded intersection he doesn’t control is owned by department store Bergdorf Goodman.

Since his acquisition of Dior in 1984, Mr. Arnault has built LVMH, now valued at around $500 billion, through a series of high-stakes corporate takeovers while also cultivating fashion designers. Rivals call him the “wolf in cashmere."

Demand for the company’s dozens of brands, including jewelry, fine wine, fashion labels and upscale hotels, helped LVMH emerge from the pandemic as the most valuable listed company in Europe. It also helped Mr. Arnault surpass Elon Musk as the world’s richest person.

[NYguy]

AUGUST 11, 2023














The newly remodeled Tiffany across the street...

[NYguy]

https://nypost.com/2023/10/27/real-e...push-rents-up/

Luxury brands lead NYC retail leasing boom, rents ramp up


By Lois Weiss
Oct. 27, 2023

.....The opening of Tiffany & Co.’s redevelopment will allow its sister LVMH brand, Louis Vuitton, to move into the former Nike space to its east that Tiffany had occupied during its renovation.

Louis Vuitton will develop a new tower at 1 E. 57th St. and engulf 743 Fifth Ave., now occupied by brand cousin Hublot, sending it into the market to seek a new spot.

Gucci has renewed its large store on the Fifth Avenue base of Trump Tower. Swarovski is opening soon at 680 Fifth. Rolex is building its own tower at 665 Fifth Ave., while Marc Jacobs will take over the former Armani X on the north corner of East 51 Street at 645 Fifth Ave.

[jackster99]

^I know this isn't the right thread for it, but I had almost completely forgotten about the Rolex tower. I don't think we have had an update on that one in months, could someone stop by the site and see what's up? I think last update was that demo was starting on the existing building.

[NYguy]

Originally Posted by jackster99

^I know this isn't the right thread for it, but I had almost completely forgotten about the Rolex tower. I don't think we have had an update on that one in months, could someone stop by the site and see what's up? I think last update was that demo was starting on the existing building.

Not sure how you missed it, but there have been updates....
https://skyscraperpage.com/forum/sho...=240549&page=5

[mrnyc]

i dk about tawl, i hope so, but by all accounts this is giving us really high hopes for a striking tower here.

and on a side note, nice to see marc jacobs brand getting it back together.

the late go-go nineties/early oughties must be trending.

[NYguy]

^ Tall would be icing on the cake. But I really want a show-stopping design, something unique for that intersection.


OCTOBER 28, 2023

[ChiND]

If LVMH acquires this building, I suspect that it will be razed in connection with their new HQ which could also include condos and a hotel.

It’s a beautiful building, but I’d be willing to see it razed if an iconic, super tall rises in its place.

https://therealdeal.com/new-york/202...-in-manhattan/

[NYguy]

Originally Posted by ChiND

If LVMH acquires this building, I suspect that it will be razed in connection with their new HQ which could also include condos and a hotel.

It’s a beautiful building, but I’d be willing to see it razed if an iconic, super tall rises in its place.

https://therealdeal.com/new-york/202...-in-manhattan/

Fifth Avenue is hot right now, and that building isn’t landmarked, but I don’t know that I want it gone. We’ll see.



https://www.globest.com/2024/01/29/l...-retail-store/

LVMH Reportedly in Talks to Buy Fifth Ave. Retail Building

By Erika Morphy
January 29, 2024

LVMH Moët Hennessy Louis Vuitton, which owns 75 brands including Christian Dior and Tiffany, is in talks to acquire 745 Fifth Ave. in Manhattan, where a Bergdorf Goodman men’s store occupies the first three floors, according to a report in Bloomberg that cited people familiar with the negotiations that asked not to be named. One of the sources told Bloomberg that LVMH is competing against other bidders for the property. The landlord of the building is Paramount Group.

LVMH is the latest luxury brand to seek to own a piece of Manhattan’s Fifth Ave. Last week Globest.com reported that Kering, the French luxury group that owns Gucci, Balenciaga and Alexander McQueen, acquired the retail portion of 715-717 Fifth Ave., for $963 million. The 115,000 square foot property was sold by SL Green and Jeff Sutton’s Wharton Properties.

Sutton was also the seller of 720 Fifth Ave. for approximately $410 million. Prada scooped up that property several weeks ago along with the 12-floor building it has been leasing since 1997 at 724 Fifth Avenue. It paid $425 million for that building.

New York’s Fifth Avenue retains its top ranking as the world’s most expensive retail destination, despite recording flat rental growth year-over-year, according to Cushman & Wakefield.

https://www.pgre.com/property/745-fifth-avenue/3314549

[UrbanImpact]

They've got some interesting designs in Tokyo:

https://maps.app.goo.gl/Jv4naYWg2XrDL5k7A

[Crawford]

I bet you they combine it with the adjacent lot. This will be an insanely expensive and high-profile assemblage.

I guess these sites will have flagship luxury retail and then condos or office space above, as with the new Rolex and Armani redevelopments.

[Busy Bee]

Razing 745 Fifth would be outrageous. It's not one of the city's most famous art deco gems but it's a fine example, especially one of the transition from art deco to modernism. Proposing demolition would likely be highly controversial. And what a waste that would be anyway. A new tower can rise pretty tall on on the LVMH and Hublot lots and maybe they could incorporate the short wing of 745 into the tower development. If done right, it could look amazing. So count me as one that doesn't want to see a pointless tear down of a classic old building that would be one the finest in any number of other cities.

Rando forgettable buildings usually don't have replica miniatures made of them:


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New Yorker 1930:


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That's the Squibb Building with its architect Ely Jacques Kahn third from the left. I shouldn't have to tell anyone how famous this photo is:


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From Wiki:

Kahn's partnership with Albert Buchman lasted from 1917 until 1930. In this period his work alternated Beaux-Arts with cubism, modernism, and art deco, of which examples are 2 Park Avenue (1927), using architectural terracotta in jazzy facets and primary colors, the Film Center Building in Hell's Kitchen (1928–29) and the Squibb Building (1930), which Kahn considered among his best work.[8] In what has become an iconic photograph, Kahn masqueraded as his own Squibb Building with other architects dressed as buildings for the Beaux Arts Ball of 1931.[9][10] The building moved decisively away from the decorative modernity of the Art Deco 20s: Lewis Mumford praised it in 1931 as “a great relief after the fireworks, the Coney Island barking, the theatrical geegaws that have been masquerading as le style moderne around Manhattan during the last few years.”[8]

[Busy Bee]

The base of the tower underwent a renovation in the 1980s with the black marble and those diamond whatchamacallits among other alterations. I would be in favor of some or all of those modifications restored to the original design:


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The Squibb Building, 745 Fifth Avenue, New York, New York, 1929. Exterior view of entrance with Art Deco nickel-steel screen, and sign for Haas Soeurs Importers at no 743. Designed by Ely Jacques Kahn. (Photo by Irving Browning/The New York Historical Society/Getty Images)


One of the most beautiful ensembles of tall classic NYC buildings ever assembled. The loss of the Savoy-Plaze is painful:


Wiki

[streetscaper]

Yeah they better not tear that down... If they haven't already, they should landmark it imo