Real Estate Weekly
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Deals & Dealmakers

New York City serving up something for every shape and size this year

By Faith Hope Consolo
Chairman, Retail Leasing and Sales Division
Douglas Elliman Real Estate

The excitement mounts as we settle into the New Year.

The awaited arrival of The Row, the Olson twins’ second store in an Upper East Side townhouse is near.
Also expect a New York flagship for Karl Lagerfeld Paris that would surely revive this contemporary label.

Will we see an early 2016 opening of Barneys New York Chelsea and, in the Financial District, Saks Fifth Avenue at Brookfield Place come spring.

Sonia Rykiel, 816 Madison Avenue, to showcase the French brand’s ready-to-wear collections, fur, leather, shoes, and children’s lines. There will also be specialty items designed specifically for the location by Sonia Rykiel creative director, Julie de Libran.

Stella McCartney to open first Madison Avenue location, 929 Madison Avenue. Aquazzura, 935 Madison Avenue, is the Italian brand’s first standalone store in the United States.

French luxury leather goods retailer Moynat will open at 935 Madison Avenue in time for the next New York Fashion Week in February. It’s the brand’s first freestanding store in the US (it previously popped up at Dover Street Market), and will be right across the street from Apple.

Jimmy Choo is relocating its current boutique in April a block south to 699 Madison Avenue, next to Hermès. Reiss will openat 520 Madison Avenue.

Les Canebiers and Oliver Peoples are creating 575 Madison Avenue boutiques. Bottega Veneta left The St. Regis New York on Fifth Avenue and popped up on the corner of East 59th Street, 650 Madison.

Victoria’s Secret will open a new flagship store at 640 Fifth Avenue. MUJI unveiled 475 Fifth Avenue between 40th & 41st Streets. Women’s sportswear retailer Bandier to 164 Fifth Avenue between West 21st and West 22nd Streets. Tory Sport will roll out the red carpet at 129 Fifth Avenue.

Lower Manhattan Goes Big

Westfield World Trade Center at 7 WTC will provide 350,000 s/f of multilevel space full of fashion, culinary and artistic experience with a mix of 150 local and global brands and divine dining.

Current confirmed stores include Aesop, Aldo, The Art of Shaving, Banana Republic, Beer Table, Breitling, Camper, Caudalie, Charles Tyrwhitt, Cole Haan, COS, Crabtree & Evelyn, Designer Eyes, Dune London, Eataly, Edward Beiner, Epicerie Boulud, Fika, Folli Follie, Fossil, Hugo Boss, Joe coffee, John Barrett Salon, John Varvatos, Kate Spade New York, Kiehl’s, Kiko Milano, L’Occitane, La Colombe, Lacoste, Links of London, LK Bennett, London Jewelers, Longines, Lore Wine & Spirits, M.A.C, Market Lane (previously known as Jones the Grocer), Michael Kors, K. Minamoto, Montblanc, Nobletree Coffee, Nunu Chocolates, Pandora, Penhaglion’s, Reiss, Rituals Cosmetics, Sephora, Stuart Weitzman, Swatch, Thomas Sabo, Tissot, True Religion, Turnbull & Asser, Under Armour, Une de 50, Victoria’s Secret, Victoria’s Secret Beauty, Vince Camuto.

Brookfield Place at 200 Vesey Street has the luxury Club Monaco with separate men’s and women’s stores on two different levels of the shopping center.

Saks Fifth Avenue anticipates a spring 2016 opening, and Scoop NYC has opened on the first floor. Other brands in this luxury lineup include Gucci, Ermenegildo Zegna, Calypso St. Barth and Hickey Freeman.
Hermés Parfumerie has taken a spot at the complex’s 230 Vesey Street address. Also explore Babesta, Bonobos, Bottega Veneta, Burberry, Cos Bar, Diane von Furstenberg, Davidoff of Geneva, Dry Bar, Equinox, J. Crew, Judith and Charles, Kamakura Shirts, L’Olivier Floral Atelier, lululemon, Michael Kors, Omega, Paul Smith, Salvatore Ferragamo, Theory, Tory Burch, Vilebrequin, Vince.

In Midtown, Saks Fifth Avenue’s discount brand, OFF 5TH, will open its first New York City location at Tower 57, 135 East 57th Street. Another OFF 5TH is set to open Downtown in 2017.

Nordstrom Rack has its eyes on a three-floor home at Columbus Circle, near the outlet store’s more sophisticated half, Nordstrom, which will occupy seven floors of the Central Park Tower, a.k.a. Nordstrom Tower, on 225 West 57th Street, when it opens in 2019.

In Tribeca, Target has signed a lease at 255 Greenwich Street.

Six food halls have opened in the past five years in Manhattan, from Gotham West Market to Eataly near Madison Square Park, Plaza Food Hall at Fifth Avenue, Gansevoort Market in the Meatpacking District, Hudson Eats at Brookfield Place in Battery Park City, and City Kitchen in Times Square.

Food Halls are a low-cost option with a big reward considering the high number of pedestrians.

What sets NYC food halls apart is the quality and diversity of the cuisine offered. Not to mention 2016 has massive expansion in the formidable “Food Hall” category.

Eataly’s founder, Oscar Farinetti, has announced plans to open two more Eataly locations in Manhattan, while a Nordic-themed food hall is slated to open in Vanderbilt Hall inside Grand Central Station.

Restaurateur Danny Meyer is dominating dining; opening up a 40,000 s/f food court at Hudson Yards.
Anthony Bourdain is opening Bourdain Market on Pier 57 at the Hudson River on the edge of the Meatpacking District.

Estimating a two year build, planned are 100+ retail and wholesale food vendors from New York, the nation, internationally and at least one full-service restaurant.

It will be a Singapore-style hawker market (a hawker center, or cooked food center, is an open-air market housing many moveable stalls that sell a variety of inexpensive food), with communal eating spaces surrounded by small stands selling street foods from around the world — many of them mom-and-pop operations.

This will be the biggest and best; 155,000 s/f, which dominates the scale of other food markets.

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