Pursuits
Zara’s Parent Buys Fifth Avenue Site in Record Retail Deal
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Spanish retailer Inditex SA said it bought the former NBA Store at 666 Fifth Ave. in Manhattan for $324 million, in a record deal for a U.S. retail property.
The company will make the 39,000-square-foot (3,600-square-meter) storefront between West 52nd and 53rd streets into a flagship store for its Zara clothing chain, Arteixo, Spain-based Inditex said today in a statement posted on its website. The site was the home of a National Basketball Association shop that sold team jerseys and other memorabilia.