Juicy Couture Owner Accepts $51M To Break 650 Fifth Lease

Law360, New York (November 20, 2013, 2:31 PM EST) -- Fifth & Pacific Cos. Inc. said Wednesday it will terminate the lease for its flagship Juicy Couture store in Manhattan in exchange for a $51 million payment on the heels of a recent landlord change at the building, which the U.S. government is seeking to seize because it allegedly has ties to the government of Iran.

Fifth & Pacific said it has signed an agreement with the new landlord at 650 Fifth Ave. — a joint venture including Wharton Properties and SL Green Realty Corp. —...
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