As Takashimaya goes out of business, bidding for the Fifth Avenue building is under way. Swatch is the only retailer to advance to the second round. Takashimaya used eight floors of the twenty-floor building for retail and two more for office space. It’s unclear how Swatch would use the building, now going for $1,200 to $1,300 per square foot. But if Crocs can open an entire Soho store, maybe Swatch, too, can fill a giant space with their colored plastic things. [Crain’s via Racked NY]
