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Retail Watch

A skyscraper that the U.S. government believes is secretly owned by the Iranian government nabbed itself a new ground floor tenant. SL Green Realty and Jeff Sutton signed a 49-year lease for the 30,000-square-foot retail space at 650 Fifth Avenue. The terms were not released, but a court document said that the space could bring in up to $30,000 per day, or $10 million per year. A judge recently ruled that the buildings' landlords, Alavi Foundation and Assa Corp., laundered money and violated sanctions against Iran, and that the U.S. government should seize the building. The legal battle is ongoing as Alavi and Assa are appealing the decision. [WSJ; previously]