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Cha-Ching: Chanel Boutique on Madison Avenue Sets Record

Chanel signage in Soho. Photo by Brian Harkin
Chanel signage in Soho. Photo by Brian Harkin

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The "modest-sized" Chanel boutique at the base of a residential co-op building at Madison Avenue and East 64th Street has set a record for the highest price ever recorded for a store at $123.8 million, according to the Wall Street Journal. The hefty price tag translates to over $31,000 per square foot.

Currently, the space is home to a Chanel Fine Jewelry boutique, so breaking even shouldn't be too much of a problem.
· Chanel Sets Retail Record With Madison Ave. Co-op [WSJ]
· See Gorgeous Photos From Inside the Chanel Showroom [Racked NY]
· Madison Avenue Madness: The Nine Biggest Moments of 2013 [Racked NY]

Chanel Fine Jewelry

733-739 Madison Avenue New York NY