At a time when Midtown Manhattan is struggling with empty storefronts and a plunge in luxury shoppers, the Trump Organization is facing the prospect of having to fill retail space at a prized property just off Fifth Avenue.
Tiffany & Co., which currently occupies Trump’s 6 E. 57th St. as it renovates its nearby flagship, plans to move back to its longtime home by mid-2022. The companies that hold the lease at the Trump building, Wharton Properties and SL Green Realty, won’t extend it when it ends next year, according to people with knowledge of the matter.
That means the 74,000-square-foot space—commonly known as NikeTown for its former tenant—will be handed back to the Trump Organization. The company holds a long-term ground lease at the building, located around the corner from Trump Tower.