Labubu maker Pop Mart signs lease for Fifth Avenue location
Exciting developments are happening on Fifth Avenue’s upper-Midtown shopping corridor.
A significant retail lease has been finalized at 680 Fifth Ave. at East 54th Street, with sources revealing that it’s with Pop Mart, known for their quirky Labubu dolls.
The negotiations for the space were initially reported last October, and the deal has now been sealed. Pop Mart also has a similar-sized lease at 1540 Broadway in Times Square.
Cushman & Wakefield’s Steven Soutendijk, representing landlord Josef Buchmann for 680 Fifth Ave., confirmed the retail lease but did not disclose the tenant’s identity.
The new Pop Mart store will be located next to Swarovski, which occupies a 12,000 square-foot space in the tower’s revamped retail area.
This signing will fill one of the several long-vacant storefronts in the East 50s of the avenue.
On the other hand, the new Rolex headquarters at 665 Fifth Ave., a 30-story boutique office and retail building, is set to open at the corner of East 53rd Street this autumn.
A four-story Rolex store will be situated at the base of the 30-story tower, designed by architect David Chipperfield. Rolex will occupy half of the office floors for its US headquarters and lease out the remaining space. The first office tenant will be Angeles Wealth Management, relocating from the Seagram Building on Park Avenue.
