Apple wants to take a larger bite out of the GM Building. The tech giant pioneered its iconic glass cube on the Fifth Avenue plaza of the full block tower, but business in its now-cramped underground location is so good, it also wants to take over the former FAO Schwarz space.

It is likely to open in some or all of the 61,000 square-foot space on a “temp” basis while it refreshes its underground fortress.

But there’s a problem when it comes to a permanent expansion: Apple doesn’t want to pay the asking freight and feels it’s “entitled” to the prime retail spot as it ‘made’ the location a global tourist draw.

Of course, owner Boston Properties has both investors and stockholders. The executives can’t simply roll over to the demands of its special-needs tenant, but must bring in the going return. In that area of Fifth Avenue, asking rents for ground floor space — this has 13,000 square feet on the ground — range from $2,700 to $4,450 per square foot, while its Madison area garners $1,250 to $2,058 per square foot, according to a new Real Estate Board of New York report.

That’s what set up the opportunity for Nike to start negotiating with Boston Properties to take the now vacant toy store spot for its next flagship. And if Apple steps in for a few years, it doesn’t make much of a difference.

That’s because Nike has already extended its lease at the Trump Organization’s 6 West 57 St. building to 2022, sources said.

GM and Nike’s Cushman & Wakefield reps and Apple’s RKF broker all declined to comment.

But in the name of musical stores, I think Apple should take over Nike’s current grand but dark space, install white glass floors, interior atriums and re-envision that “Public School’ façade with outdoor terraces and glamorous transparent glass with a huge Apple logo etched on the front.

Now there’s a selfie set-up that global tourists would love.

We hear that luxury leather and accessories champ Longchamp is leasing the former 2,000 square-foot Jimmy Choo space at Olympic Tower at 645 Fifth Ave. where it likely won’t open until sometime in 2017.

Jonathan Moss of M&M Luxury Retailing Consultants represented Longchamp, which also has a store down the block at 610 Fifth in the Channel Gardens of Rockefeller Center.

Crown Acquisitions leases the retail space on behalf of its ownership venture.

No one returned requests for comment.

Bruce Brickman’s Brickman Associates and Daren Hornig’s Hornig Capital Partners have just closed on The Box Factory at 1519 Decatur St. for $10 million.

A Pinnacle Realty of NY team led by David Junik and Abe Lowy represented both sides of the transaction.

Located in a new mini-tech company neighborhood they dubbed “Ridgewick,” the partners intend to redevelop the two-story Queens building while targeting artists and “makers” with rents in the $30s per square foot.

The long warehouse has more than 100 windows and lots of light. Hornig said they are also refurbishing some outdoor space behind the property.

The 16-story loft office building at 251 W. 30 St. in Chelsea was just sold to Michael Reid and Gerard Nocera of Herald Square Properties and the Marciano Investment Group for roughly $52 million.

William Cohen of Newmark Grubb Knight Frank marketed the building on behalf of the sellers, Justin Management, and will now represent the purchasers for leasing and its upcoming high standard pre-built program.

The buyers intend to entirely revitalize the 114,000 square-foot 1927-era property with an eye on small tech tenants of 5,000 to 8,000 square feet. Some outdoor spaces will also be available.
Asking rents are expected be in the range of mid- to upper $50s per square foot.