Tiffany & Co., has signed a lease to open a 7,000-square-foot store on the ground floor and mezzanine at 37 Wall Street, a 25-story office building that is being converted into 373 rental apartments by Skyline Developers LLC.

Orin Wilf, chairman of Skyline,and Michael J. Kowalski, chairman and CEO of Tiffany * Co., jointly announced the lease today.

The store, which will be the building's exclusive retailer, is scheduled to open in the fall of 2007.

The building was erected in 1907 as the headquarters of the Trust Company of America and was designed by Francis Hatch Kimball. Costas Kondylis is the architect for the building's restoration and conversion.

Skyline Developers, LLC, is the Manhattan-based affiliate of privately-held Garden Homes Development, one of the largest homebuilders in the nation. Garden Commercial Properties, also an affiliate, owns and manages over 20 million sq. ft. of commercial properties in 37 states across the country. Skyline is building a new residential condominium building designed by Peter Marino at 170 East End Avenue.

"With this historically accurate and detailed restoration, the timeless elegance of 37 Wall Street returns as the ideal setting for a Tiffany & Co. store and the renowned collections that reflect the growing spirit and vibrancy of a renewed downtown community," said Mr. Kowalski.

"Tiffany's first store opened on Lower Broadway in 1837 and was followed by ever grander emporiums farther uptown," said Beth O. Canavan, executive vice president of Tiffany & Co. "Opening a store near our original location takes us back to our roots in New York. We've found the perfect site in a historic building whose style and grace is being restored as part of Lower Manhattan's dynamic redevelopment and which Tiffany & Co. is very pleased to support with a major presence in the area."

The transaction was negotiated by Jeff Roseman and Gregg Gropper of Newmark Knight Frank on behalf of Skyline Developers, LLC and Raymond Carew from Madison HGCD on behalf of Tiffany & Co.

Tiffany's flagship store is located on the southeast corner of Fifth Avenue and 57th Street.

Earlier this year, Hermes, the French luxury accessories retailer, announced it would open a major store at 15 Broad Street at Wall Street.

Both transactions significantly enhance the retail ambience of the Financial District.