Much has been made of the metamorphosis of the Bowery from one time skid row to trendy runway. Boutique hotels, apartment buildings, the New Museum and residential developments have landed and it seems retail is realizing the street’s potential.
“I really think it’s coming together down there,” said Faith Hope Consolo, chairman of the retail Read More
The country’s retail sector availability rate should see a notable decline, falling to 12.4 percent by the end of 2012, according to a new report from CBRE Econometric Advisors issued yesterday.
On Saturday afternoon, a security guard sat in the back seat of an idling white jeep, watching over a 2.1-acre patch of dirt near the Gowanus Canal in Brooklyn. There was an overflowing can of garbage next to the car’s front bumper and a puddle of groundwater nearby. Just across the canal, against the backdrop Read More
Scrooges beware. A retail recovery is on the way.
There’s been much ho, ho, ho’ing of late about rising retail rents, but an absence of holiday cheer given the number of empty storefronts in the city. Now comes the news that not only are asking rents up, but vacancies have finally stabilized. That Read More
Think twice before you elbow a tourist in Times Square. Rents in the wanna-be hotspot just soared 21 percent, thanks to the city’s tourism boom.
Retailers in the area are now paying upward of $1,700 a square foot annually, according to a quarterly report from the Real Estate Board of New York that came out this morning. That’s Read More