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Tiffany Vacancy Looms for Trump in Weak Midtown Manhattan Market

  • Leaseholders at 57th Street building won’t renew next year
  • Jeweler is paying $7 million in annual rent for sublease
The Tiffany & Co. store at 6 E. 57th St. in New York.
The Tiffany & Co. store at 6 E. 57th St. in New York.Photographer: Victor J. Blue/Bloomberg

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 Corp., won’t extend it when it ends next year, according to people with knowledge of the matter.