Polo Ralph Lauren Digs In at 650 Madison

Polo Ralph Lauren, the luxury goods brand that, like so many other high-end firms, has seen its stock battered by the economic headwinds, is digging in at the trophy 650 Madison Avenue, between 59th and 60th streets.

Sources have confirmed that Polo has renewed its lease for more than 150,000 square feet at the nearly 500,000-square-foot building exquisitely located in the middle of the Plaza District -- just one block away from Central Park and the GM Building.

Last we heard, Polo was the largest office tenant in the 27-story, emerald tower, which Hiro North American Properties last year sold to Ashkenazy Acquisitions and the Carlyle Group for $680 million.

More on this in Wednesday's print Observer.

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