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]
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