UPDATE 1-Two arrested after brazen heist at Fifth Avenue jewelry store

Fri Jan 31, 2014 3:28pm EST

(Updates with police value of watches, suspects' names)

By Victoria Cavaliere

NEW YORK Jan 31 (Reuters) - Two men have been arrested in connection with a brazen, daytime heist at a posh New York City jewelry store, while three other suspects were still being sought, police said Friday.

The two men were taken into custody less than a day after five masked robbers wielding hammers stormed the Cartier jewelry store on Fifth Avenue in Manhattan and grabbed 16 watches.

There were shoppers in the store and the neighborhood was filled with pedestrians at the time of the heist, which took place at about 12:30 p.m. on Thursday.

The thieves smashed a glass display case to grab the watches, police said.

Police said the watches were valued at $709,000.

Timepieces at Cartier, one of the most exclusive jewelers in the world, range from $2,500 to more than $60,000, according to the store's website.

Two men, Allen Williams, 35, and Roberto Grant, 33, both of Brooklyn, were in custody on Friday and charged with robbery, said New York Police Department spokeswoman Karen Anderson.

Williams also was charged with possession of criminal property.

Police were still seeking three other suspects and reviewing surveillance video from the store.

Officials at Cartier did not immediately respond to a request for comment. (Editing by Ellen Wulfhorst and Gunna Dickson)

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