Report: Apple’s Fifth Avenue store tops $350M in annual revenue (Updated)

Bloomberg notes that that's the equivalent of selling one Mercedes-Benz C300 sedan per square foot.

Jeffrey Roseman of real-estate broker Newmark Knight Frank Retail in New York estimates that Apple’s Fifth Avenue store has about $350 million in annual revenue -- the highest of Apple's 262 retail stores. The store is 10,000 square feet making it about $35,000 in sales per square foot, based on Roseman’s estimate.

That’s the equivalent of selling one Mercedes-Benz C300 sedan per square foot. Apple may be the highest grossing retailer ever on Fifth Avenue, said Faith Hope Consolo, chairman of the retail leasing and sales division at Manhattan-based Prudential Douglas Elliman Real Estate. Apple doesn’t disclose store-specific revenue, said Amy Bessette, a spokeswoman at the company.

Bloomberg notes that the sales floor at Tiffany & Co. sells as much as $18,000 per square foot and that famous Fifth Avenue jeweler, Harry Winston Diamond Corp., sells between $12,000 and $13,000 per square foot.

Update: In a post in December 2006 I crowned Apple the new king of retail noting that Apple's stores have hauled in annual sales per square foot of $4,032, compared with Best Buy's $930, Neiman Marcus' $611, and Tiffany & Co.'s $2,666.