Tag - Fifth Avenue
Microsoft will be launching its first flagship retail location in Manhattan, a few blocks away from Apple's iconic Fifth Avenue glass cube store. The software giant has confirmed its Microsoft Store will be taking the place of a Fendi shop located at 677 Fifth Avenue, with executives claiming the store has already been five years in the making.
Rain is again seeping into the underground store of Apple's iconic Fifth Avenue NYC store, disrupting operations as staff move electronics out of harm's way and move receptacles to catch leaking water coming into the store. Recent heavy rains early in May damaged the store, flooding the below-ground level after a slow leak turned into a full-fledged pouring incursion. The problem is thought to be a drainage issue.
Apple's flagship store in New York City is likely producing the highest gross of any shop along Fifth Avenue, says the executive VP of Newmark Knight Frank Retail, a New York real estate broker. Jeffrey Roseman comments that the cube-shaped Apple Store probably has annual sales of over $350 million, despite only occupying 10,000 square feet in its luxury shopping district. Faith Hope Consolo, a division chairman at Prudential Douglas Elliman Real Estate, notes that Apple could be the all-time champion of Fifth Avenue sales, though Apple does not publicize individual store revenues.
In early-morning launches at carrier and Apple Stores, the iPhone 3G S has gone on sale in different eight countries, including the likes of the United States, Canada, France and Germany. The most prominent launch so far has been the one at the Fifth Avenue Apple Store in New York City, where despite less press coverage and lower publicity from Apple, approximately 200 people waited in line to be some of the first in the US to own a 3G S. The Soho and 14th Street stores in New York bore witness to smaller lineups.
Apple's flagship store in New York City has proven extremely profitable, reporting sales of approximately $440 million a year, according to the New York Post. Part of this may be attributable to people shopping less in the SoHo area, instead purchasing more goods at Fifth Avenue stores. Such behavior would be odd however, considering that Fifth Avenue stores typically have shorter hours than their SoHo counterparts. The Fifth Avenue Apple Store pulls in at least some extra revenue as a result of being open 24 hours a day.
Despite the iPhone 3G launching Friday, potential owners are still lining up to purchase one, but even Apple's flagship Manhattan stores are starting to run dry, and are placing limits on the constant long lineups. In calls to the Fifth Avenue, SoHo and West 14th retail locations, representatives tell MacNN that they each expect lineups to last four to five hours, and are informing others that join the line that the stores can not accommodate them, since the store will be closed by the time staff could service those customers.
Apple's flagship American store, the Fifth Avenue location in New York City, will temporarily close on July 10th, Apple has announced. The store will shutdown at midnight on the 10th, and only reopen several hours later at 8AM, allowing preparations for some of the first North American sales of the iPhone 3G. The closing is notable in that the Fifth Avenue location is normally open 24 hours a day, year-round, making tomorrow a rare disruption.
Though its about a week before the expected launch of the iPhone 3G, a line already has begun forming outside the Apple's flagship Fifth Avenue Store in New York City. As of mid-Friday afternoon, about 10 people are in line waiting to purchase the new iPhone 3G, which will be available next Friday (July 11th). Gear Daily reports that "about 10 people in line with the first two being a man and woman with a young child. The security guards will allow everyone to stay and indicated that as of yet there are no plans to put out barricades." Pictures from the store, courtesy of Gear Daily, show people prepared for the seven-day wait with fold-up chairs, overnight gear, and more.
Two of Apple's retail stores have made it from being local sights to internationally must-see retail landmarks, according to a recent report of the world's top retail locations. Retail Week reveals that both the Fifth Avenue Manhattan 'Cube' location and the Regent Street London stores are praise-worthy enough to include them on its list of the top 100 must-visit retail spaces, alongside clothing stores, food retailers, sporting good stores, and other electronics retailers.
An instantly recognizable icon of Apple's retail presence, the Fifth Avenue "Glass Cube" store is said to have contributed to raising the value of the property it sits on by over $1 billion. ifoAppleStore reveals that Apple's $100-per-square-foot retail space, combined with other retail locations in the plaza, have helped the selling price when former owner Harry Macklowe sold the location to Boston Properties Incorporated for $2.8 billion this year.