Slash LaneIts first two flagship shops in Manhattan have been a resounding success, but Apple's pursuit of a third outfit has reportedly turned sour for a second straight year.
Citing unnamed sources, the publication said the image-conscious Apple, which leased the space from a joint venture between SL Green Realty Trust and developer Jeff Sutton last fall, is having second thoughts about the location's "coolness" and plans to put the site up for sublease.
From the start, "Apple had doubts about the compatibility of its leading-edge image with that of middle-America 34th St., at least as it currently stands," the report states. It notes that while retailers like Gap, American Eagle Outfitters and Forever 21 are happily situated along the row, "unfortunately, a lot of the old 34th St.— third-rate tourist merchants and rip-off artists— still remain."
For Apple, the reversal marks its second on a third Manhattan location in less than two years. In the fall of 2005, it abandoned plans for a glass enclosed two-story shop in Manhattan's Flatiron District after a tiresome battle with a local landmarks preservation commission.
The company's second go on 34th street would have been for a 30,000-square-foot, four-story store with about 75 feet of frontage. The lease on the site, according to Forbes, runs about $5.5 million a year.
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6 Comments
I think they made a smart move.
I really think they should put one in the Princes Quay, Hull, UK.
I'm a bit disappointed.
Manhattan needs more Apple stores.
SoHo is too small.
Fifth Ave. has no theater.
Most definitely a smart move. I used to work on 5th Ave between 33rd and 34th streets directly across from the Empire State Building. It is not the area for an Apple Store, it is really an area with a lot of factories and tourist trap shops. When I read that Apple was planning to open a store there I couldn't understand why. The Flat Iron area on 5th in the 20's would be a better fit. Actually Apple should open a store on the upper west side near the new Time Warner Building.
In the past few years Union Square has become the busiest non mid-town location in the city. With the arrival of Whole Foods, Circuit City, Virgin Mega Store, and the nearby NYU housing and schools, an Apple store would see fantastic traffic.