SnapChat chooses 5 east 59th Steet to launch Spectacles
The chief executive officer of the Baltimore-based company announced Tuesday that Under Armour would take over the former FAO Schwarz space at the GM Building, which had been eyed by rival athletics retailer Nike.
The 20-year-old apparel firm is a “growth company,” CEO Kevin Plank said during the second-quarter earnings call, and the coveted location on Fifth Avenue between East 58th and 59th streets is one of the “most recognized and high-trafficked areas of all New York,” the Commercial Observer reported.
PDF MAPS AND DATA BOOK:5 E 59 Map Book and Facts
5 East 59 faces the entrance to Apple, where 5 Million shoppers walk into the cube every year.
Central Park, where 63 million people enter the park every year.
Given 5 East 59’s access to these transit nodes, a retailer’s catchment extends well beyond the enormous local market, reaching into the residential neighborhoods of Manhattan, the populous outer boroughs of NYC and into the suburban counties of the greater MSA and beyond.
With superior proximity to transit, 5 East 59 offers the retailer the equal accessibility to capture the attention of commuters, travelers and passersby who have an impulse to purchase as well as those who live and work outside of the trade area and are purposely driven to purchase.
Photo taken from the South West Corner of 58th and 5th on a Saturday Afternoon