Exactly What They Want
Dana Rubinstein Nov. 23, 2009, 12:35 p.m.
Tiffany & Co., the retailer whose flagship store, packed as it is with precious metals and rare stones, exerts a seemingly magnetic pull on both Fifth Avenue tourist swarms and men seeking to please their bauble-headed brides, is looking for new office space.
The firm is working with brokers at Studley to find more than 200,000 square feet of office space, according to an industry source. We imagine there are countless landlords slavering for the opportunity, what with the echoing vacancies now afflicting the cavernous Manhattan office market.
This could bode ill for both Ruben Companies, owner of 600 Madison Avenue, and Rodney Company, owner of 555 Madison Avenue. Together, their two buildings hold about 300,000 square feet now occupied by the jewelry firm.
Presumably, Tiffany is looking to consolidate those two offices into one more efficient space. We say “presumably,” because Studley declined to comment for this article, as did Tiffany.