Mac Cosmetics to Pay Highest Retail Rent in New York City History
MAC Cosmetics is in talks to lease a small store for what could be the highest rent ever paid in Manhattan. The popular makeup company is looking to lease a roughly 1,400-square-foot space at 691 Fifth Avenue, a property owned by Vornado Realty Trust, one of the city’s largest commercial landlords. The space is currently occupied by the skin care company Elizabeth Arden, but Vornado has been marketing the space for rents $3,000 per square foot or higher. 691 Fifth Avenue.