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In today's Post, Lois Weiss divulges that the mammoth H&M flagship at 640 Fifth Avenue might have to relocate soon. At the time that H&M acquired the location back in 2000, the rent was "cheap"; now, Vornado Realty Trust has decided they'd prefer to get a little more bang for their buck when the lease expires in 2014.
According to the article, "H&M will have to decide soon whether it wants to pay Vornado's price or give up its lucrative spot in the best retail area of the city and second-priciest in the world." If they don't pay, Vornado's next strategy could involve breaking the space up "like three vertical town houses." We seriously doubt H&M would give up such a prime spot without a fight, but who knows—maybe the brand thinks Times Square will do just fine as a replacement.
· A downtown Morton's (sixth item) [NYP]
· H&M Is Eyeballing a Space in the Conde Nast Building [Racked NY]