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Barneys leases more than 275,000 square feet at 660 Madison Ave. Barneys leases more than 275,000 square feet at 660 Madison Ave.

NEW YORK CITY—An arbitration proceeding has reportedly come down with a decision that would almost double luxury clothing retailer Barneys rent at its flagship location at 660 Madison Ave.

The decision by the arbitrator handed down on Friday would raise the current annual rent of more than $16 million to $30 million in the 10-year lease deal. With Barneys also responsible for other expenses, including property taxes, Barneys’ annual obligations at the property would total more than $44 million, according to the New York Post.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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