NEW YORK CITY—530 Fifth Avenue, located at 44th Street and blocks from the New York Public Library, is poised to become the next hotbed for fashion houses. In anticipation of this influx, the property’s owners and managers—Jamestown Properties, Rockwood Capital, Crown Acquisitions, and Murray Hill Properties—are reconfiguring and upgrading the building’s retail spaces to meet the needs of the fashion industry.

The building’s new owners are offering various configurations for the cellar, ground and mezzanine levels, ranging in size from 15,500 to 41,500 sq. ft. Tenants will have the option to connect the spaces both vertically and horizontally, an opportunity that will accommodate the space needs of larger brands. These options will allow the new tenants the opportunity to have nearly a full block of retail space, with full signage and branding for the store.

In addition to revamping the retail portion of 530 Fifth Avenue, the owners are also embarking on a major renovation campaign for the building’s office portion. Expected renovations for the building include: a full class-A lobby renovation that will include a new security system; a new, pronounced building entrance on Fifth Avenue; new mechanicals and electrical upgrades throughout the building; and brand-new elevators.

The retail leasing will be conducted by Crown and Jamestown, while office leasing will be spearheaded by David Falk, president for Newmark Knight Frank.