New York City -- The NBA Store on Fifth Avenue in Manhattan will close in late February, due to rising rent. The company said it is looking for a new location in the city.
The 35,000-sq.-ft. NBA Store opened in 1998. It is located at 666 Fifth Avenue, which was sold in 2007 for some $1.8 billion, the largest single-building sale in New York City’s history. The building is currently awaiting the arrival of Uniqlo and Hollister, both of whom are opening flagships (and taking over spaces formerly occupied by Brooks Brothers and Hickey Freeman). Reports peg NBA’s current rent at $2,200 per sq. ft.