Blame it on Diddy. Crain's reports that after Sean "P. Diddy" Combs opened his Sean John store at Fifth Avenue and 41st Street, building owners have been looking to make that stretch of Fifth more upscale (more than the Best Buy) and the owners of 500 Fifth Avenue is "forcing out" tenants, such as tobacconist to the world Nat Sherman. The owners are hoping to get a luxury retailer to pay $425 per square foot (pricey, but probably much less than whatever they pay on Fifth in the 50s or 60s). Anyway, we almost can't imagine Nat Sherman at that corner. Nat Sherman told Crain's they "are close to signing a lease at 12 E. 42nd Street," because their "roots are in this neighboorhood."
The move will occur next spring.