645 5th Avenue
This is a high-quality long-term retail lease executed at one of Manhattan's most coveted flagship corridors — 645 Fifth Avenue within Olympic Tower — anchored by Coach, a credit-worthy institutional-grade tenant executing a brand-driven flagship strategy. The landlord partnership between OMERS, a major Canadian pension fund, and Crown Acquisitions reflects institutional-grade ownership with strong stewardship of prime retail assets. The 13,200 SF footprint at this location commands among the highest retail rents in the world, with asking rents on this stretch of Fifth Avenue typically ranging from $800 to $1,200+ per SF annually, underscoring the deal's significant economic value. The 'Coach House' concept opening in 2027 signals a long-term commitment and brand investment, reducing near-term rollover risk and supporting stable income visibility for the landlord. No distress indicators, liens, litigation, or credit concerns are present, and all parties carry strong institutional reputations.
Deal Stats
Parties
Seller / Landlord
OMERS Administration Corporation is one of Canada's largest pension funds with a substantial and sophisticated global real estate portfolio, while Crown Acquisitions is a well-regarded NYC retail landlord known for ownership of premier Fifth Avenue and Manhattan retail assets with deep institutional credibility.
Buyer / Tenant
Coach, a flagship brand of Tapestry Inc., is a globally recognized luxury fashion house with a long track record of high-profile retail flagship operations in prime urban markets. CEO Todd Kahn has led a brand repositioning strategy that has elevated Coach's retail presence, making this Fifth Avenue relocation a strategic milestone tied to Coach's 85th anniversary.
Score Analysis
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Document repeat-lender relationships
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Raw Deal Textclick to expand
Submit Growing Financial Partnerships For Over 30 Years. Get Started Deals New York Retail Sale 645 5th Avenue Daily limit: 10/10 Coach Signs Long-Term Lease For 13,200 Square Feet At Olympic Tower In Manhattan + 2 13,200 SF Leased 2 weeks ago the deal players comps contact related Summary NEW YORK Asset Type: Total Square Footage: Players All Brokers Landlords | Tenants Taylor Reynolds 6 deals BROKER Jason Greenstone 10 deals (212) 841-7713 Michael O'Neill 8 deals (312) 470-1800 BB Brittany Bragg 2 deals Todd Kahn 1 deal Crown Acquisitions LANDLORD OC OMERS Administration Corporation TENANT Details Deal Summary IMAGE: Michael O'Neill, Brittany Bragg, Todd Kahn, Taylor Reynolds & Jason Greenstone DATE: 05/04/2026 ADDRESS: 645 5th Avenue MARKET: Manhattan ASSET TYPE: Retail ~ SF: 13,200 LANDLORD: OMERS Administration Corporation & Crown Acquisitions TENANT: Todd Kahn - Coach BROKERS: Brittany Bragg - Crown Onyx Advisors ; Michael O'Neill, Taylor Reynolds & Jason Greenstone - Cushman & Wakefield NOTE: Coach signed a long-term lease to relocate its Fifth Avenue flagship to Olympic Tower, taking 13,200 square feet for a new “Coach House” opening in 2027 as part of its 85th anniversary. Email New York | @tradedny These are recently sold deals in the same market as the subject deal. Contact Get in touch with the broker you want Select Brokers Taylor Reynolds, Jason Greenstone, Michael O'Neill, Brittany Bragg, Todd Kahn Name Phone (optional) Message I'm an agent Generated based on this deal No similar profiles found Unlock All Profiles Unlimited deal views Access investor profiles & contacts Exclusive comps & market data These are similar brokers based on this deal No profiles found Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map. NEW! Search Mixed Use Hospitality Theater District Buildings Trade Hands After More Than 20 Years Residential Multifamily Development Site 497-Unit Mixed-Use Tower Rising in Brooklyn’s Sunset Park Casa Tua Plans Food Hall at Landmark One Hanson Place in Brooklyn FOR SALE $3,500,000 Prime Mixed-Use Building at 430 Grand Street Brooklyn $1,490,000 Nice Mixed-Use Building on Central Avenue in Brooklyn $3,600,000 Prime Development Site in Williamsburg at 511 Grand Street Thomas Modine Suggestions Analyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results. Deal Type SALE LOAN LEASE Purchase Price Loan-to-Value (%) Interest Rate (%) Amortization Period 30 years Loan Term 10 years Operating Income Gross Potential Rent (Annual) Vacancy Rate (%) Operating Expenses (Annual) Property Tax Insurance Maintenance Utilities Management Reserves Reset Net Operating Income (NOI) $0.00 Debt Service Coverage Ratio (DSCR) 0.00x DSCR below 1.0x - deal does not cover debt service Cap Rate 0.00% Cash Flow (Annual) Cash-on-Cash Return Monthly Debt Service Annual Debt Service Is there something missing? Send suggestions We are telling CRE's story Traded is the #1 source for cutting edge CRE transactions & insights. States National Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming News Agents Agencies About About Us FAQ Testimonials Help Help Center Return Policy © 2026 Traded Media LLC . All rights reserved. Terms & Conditions Privacy Disclaimer Cookie Policy Do Not Sell My Info Acceptable Use Sign in to view more deals Create a free account or sign in to continue viewing deals. Forgot password? Continue OR Google Outlook New to Traded? Sign up