Wine bars really began to supplant winos on the Bowery in 2007, when Whole Foods, the Bowery Hotel and the New Museum of Contemporary Art all opened on New York’s fabled broken boulevard. The 2008 market crash did little to slow skid row’s transformation into the Meatpacking District East (see: The Standard, East Village Hotel at 25 Cooper Square, just off Bowery).
Now the Downtown thoroughfare is poised to enter yet another phase of redevelopment. Intermix, the self-proclaimed “fashion boutique for trendsetters, A-Listers and glam fashionistas” opened in May at 332 Bowery, a former bodega. And last month, a portfolio of 11 mixed-use buildings sold to hip-hop clothier Joseph Betesh for $62 million.
The retail brokerage RKF is at the front of this gold rush. And Senior Director Brian Segall has become the firm’s Bowery guru. Last week, Mr. Segall and Robert Futterman, RKF chairman and chief executive, led The Commercial Observer on a tour of the company’s Bowery assignments, which (to the dismay of preservationists including Martin Scorsese) bolster RKF Executive Vice President Ariel Schuster’s prediction that the Bowery will soon be “one golden strip.”
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
It’s ICSC week in New York City and while many in the retail business consider the event secondary to the larger conference held by the organization in Las Vegas each May, for many Manhattan real estate brokers, the conference is the most important of the year—and not necessarily just because of its jam-packed daytime roster of speakers and seminars.
In establishments from the New York Times’s four-star-rated Del Posto to the Dream Hotel in Lower Manhattan, buttoned-up retail brokers will be wining and dining potential clients during a two-day orgy of after-hour soirees, dinners and suds-soaked meetings, all designed with the deal in mind.
Employment numbers might still be shakey and shopping malls are reportedly on the permanent wane, but there’s more to celebrate in Vegas this year than Celine Dion’s triumphant return tour. “We’re a nation of shopaholics,” said Prudential Douglas Elliman’s Faith Hope Consolo. Indeed, this year’s International Council of Shopping Centers is poised to be the Read More
As assured as the sight of tulips blooming in Central Park, is the specter of Upper East Siders in velour track suits ambling as their West Side countparts sprint by.
No more! Athleta, the Gap sports brand that’s been slowly muscling its way into major U.S. cities, is opening its second New York location at Read More
With tacky luggage getting harder to come by on the Lower East Side, it’s comforting to know that at least more stylish discount shoes are proliferating.
A shiny retail space at 130 Delancey Street, which has been on the market for a couple of years, is cobbling together a retail revival after all, with 7,000 Read More
When retail broker Ariel Schuster began courting PetSmart five years ago, he couldn’t have imagined that in the very near future, he’d be guiding an exuberant posse of pooch-loving executives on a tour of Manhattan’s dog, cat, fish and reptile emporiums.
But there he was, on a bus with a bevy of canine connoisseurs, Read More
Chelsea boys with a penchant for slouchy, nerve.com-style workout-wear now have an outlet.
After conquering hipster strongholds such as the Lower East Side, Soho, and Williamsburg, American Apparel recently signed a 10-year lease for a 3,700-square-foot space at 181 Eighth Avenue, their first Chelsea location.
The L.A.-based clothing retailer is notorious both for Read More