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When luxury jeweler Bulgari signed a 15-year lease in the Crown Building (730 Fifth Avenue) near the end of 2015, the transaction set a new city record with rents of approximately $5,500 per square foot. The magnificent building on the corner of Fifth Avenue and 57th Street has been described as one of the most desirable retail locations in the city. Peter Marino revamped the space with marble doorways, a white Lasa marble mosaic on the floor, and an intricate gold façade inspired by a Bulgari bracelet from the 1930s. Luminaries such as Jill Biden, Misty Copeland, Mario Testino, Ruby Rose, and Bella Hadid were on hand to celebrate the recent reopening.
Bulgari New York flagship store (Bulgari/Massimo Listri)
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Bulgari’s baubles aren’t the only gems on this site. The Crown Building takes its name from an elaborate pyramid-shaped crown, and other distinctive features include gilded detailing and dramatic nighttime illumination. Michael Shvo and Russian developer Vladislav Doronin bought the building’s non-retail upper floors in 2015; near the end of 2016, they filed plans to redevelop them. A luxury, 83-key hotel with a three-story spa, members-only lounge, jazz club and cigar bar, and two restaurants will start on the fourth floor. 20 luxe condominiums known as Aman New York Residences will start on the 11th floor and culminate in a grand penthouse on floors 22-26. SLCE is the architect of record.
Bulgari CityRealty
Looking west down Billionaires' Row (CityRealty)
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Content Specialist Michelle Mazzarella Michelle is a contributing writer and editor for real estate news in New York City
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