Record-Breaking Lease Deal Rumored on Fifth Avenue in New York City

Word on the street is that Mac Cosmetics, a division of Estee Lauder, signed a lease at Vornado Realty Trusts 691 Fifth Avenue building that breaks the record for the highest rent ever paid for a New York retail space. The 1,400-sq.-ft. space, , sits on a prime stretch of Fifth Avenue, near 54th Street. Vornado officials did not confirm the deal. If true, the transaction sets a new high for rental rates in an area that last year already ranked as the most expensive retail strip in the world, according to brokerage firm Cushman & Wakefield. In the