Syms and Filene’s to open new hybrid store concept on Fifth Avenue

New York City Winick Realty Group said Monday that Syms and Filene’s will open a flagship location at 530 Fifth Avenue in Manhattan, between 44th and 45th Streets, for its new hybrid format, fbSY. Syms acquired Filene’s Basement in 2009.

The space contains 6,500 sq. ft. on the ground floor, 9,500 sq. ft. on the lower level, and 18,000 sq. ft. on the second floor.

“The space was originally designed for the Bank of New York and wasn’t built for retail,” said Darrell Rubens, senior managing director for commercial broker Winick Realty. “But we had a vision from day one of replacing the austere granite storefront with a floor-to-ceiling glass storefront more conducive to retailing.”

With other tenants including Zara and H&M in close proximity, Rubens added that “Syms will be a great addition to Fifth Avenue.”

Syms is one of a handful of high-profile fashion chains coming to Fifth Avenue. Urban Outfitters just leased a new storefront across the street at 521 Fifth Avenue, while Guess will be opening its new flagship store up the street at 575 Fifth Avenue.