Fashion House Coach Inks 13K-SF Deal for New Store at 645 Fifth Avenue

For its 85th anniversary, global fashion house coach is signing a deal to move its Fifth Avenue store from 685 Fifth Avenue to 645 Fifth Avenue, on the northwest corner of East 51st Street, where it will have 13,200 square feet set to open in 2027 as its new “Coach House.”

The leather accessories company owned by Tapestry will take over the base of the 51-story 645 Fifth Avenue, also known as Olympic Tower. The space was previously occupied by Armani Exchange, and most recently by contemporary art seller Eden Gallery, which opened in 2024. According to Fitch Ratings, its second-story lease was to expire in January 2026 with the rest in 2034.

Coach’s new deal is a direct, long-term deal with the owners, a joint venture between OMERS Administration Corporation and Crown Acquisitions. Oxford Properties Group is the global real estate investment, development and management arm of OMERS. The lease covers around 3,200 square feet on the ground floor, approximately 4,000 square feet on the second floor, and approximately 6,000 square feet on a lower level.

Building ownership was represented in the new deal by Brittany Bragg of Crown Retail Services, while Mike O’Neill, Taylor Reynolds and Jason Greenstone of Cushman & Wakefield represented Coach.

C&W declined to comment, while spokespeople for Tapestry, Coach and the landlords did not immediately respond to requests for comment.

Both the lease term and the asking rent were unclear. According to Fitch, the overall average in-place base rent, including the lease executed with Eden Gallery Global, increased to $455 per square foot but remains below the $532 per square foot around the time of issuance.

Tapestry, which owns “iconic accessories and lifestyle brands” including Kate Spade, continues to connect with younger shoppers. In early April, it appointed Matt Madrigal, chief technology officer of Pinterest, to its board of directors, which is led by Anne Gates. Madrigal has previously held positions at Google Shopping, Fanatics and Williams-Sonoma.

Tapestry’s second-quarter filing stated the company acquired over 3.7 million new global customers, led by Gen Z, which made up a third of all new customers. It also highlighted “strong handbag revenue gains at Coach.”

Coach’s current three-story but narrow digs at 685 Fifth Avenue on the corner of East 54th Street opened in the fall of 2016 and features a unique, 12-foot sculpture of Coach’s dinosaur, Rexy, designed by artist Billie Achilleos, that is entirely constructed from Coach bags and hardware. Another sculpture, “Scribing the Void,” created by Brooklyn artist Kurt Steger, traces the surface of iconic rock formations in Central Park, and is “a nod to Coach’s New York City roots,” according to a release.

The Coach brand was established in New York City in 1941 and pairs exceptional leathers and materials with innovative design. The fashion house has several other stores in Manhattan, including locations at 143 Prince Street in SoHo, 20 Hudson Yards in Hudson Yards, and 151 West 34th Street in Midtown.