COMMERCIAL OBSERVER: The 10,800-square-foot store—about 2,800 square feet bigger than Five Below’s average outpost—will open later this year at the property between West 44th and West 45th Streets, according to CNBC, which broke the news of the deal.

“It’s not a Fifth Avenue-type tenant. Everyone is pissed,” one broker said of the deal because of the nature of the tenant on a prized part of Fifth Avenue. He added: “There goes the neighborhood.” A more suitable location, the broker said, would have been south of 42nd Street.

Noting the benefit of tenant diversity, James Famularo, the president of Meridian Capital Group‘s retail leasing division, said: “I think it was a good move. Not everyone will pay $250 for a jersey from the NBA store or $398 for a parka from Lululemon.”

“This is a unique opportunity for us to establish a presence in one of the world’s most iconic and popular shopping destinations and introduce new customers to the Five Below brand,” Five Below CEO Joel Anderson said, as per CNBC.