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Hermès has signed a ten-year extension on its Madison Avenue flagship lease, putting its rent "in excess" of $1,700 per square foot. The Post adds that it might not hold that ballin' title for long: leases are allegedly going for $2,200 per square foot at 680 Madison. The price, of course, is only taking into account the womenswear flagship, and not the men's store across the street.
· Hermès pays the highest rent on Madison Ave. [NYP]
· Fourteen Luxury Stores for the Ultimate Shopping Spree [Racked NY]
· All Hermès Coverage [Racked NY]