Real Estate Weekly
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West Village tastes are changing

By Holly Dutton

Two new stores will continue to fuel the retail resurgence on Greenwich Village’s West Eighth Street.

Maison Adam, a French pastry shop, and an Italian wine bar will move into spots previously occupied by food stores.

Steve Rappaport

Steve Rappaport, managing director at Sinvin Real Estate, leased the two mirror image 400 s/f stores at 1 West Eighth Street, aka 10 Fifth Avenue, for $217 psf. According to the most recent report from REBNY, average retail asking rents in the West Village are $364 psf.

On the west side, in a space formerly occupied by Populence, a gourmet popcorn shop, Maison Adam, took space. Thibaud Vieuille of City Square group represented the tenant while Rappaport represented the landlord.

Next door, what was formerly the Organic Avenue grocery store was leased by the as-yet-un-named wine bar that will specialize in sandwiches and high-end imported meats and cheeses. Rappaport represented the tenant and the landlord.

According to Rappaport, 8th Street between 5th and 6th Avenues, just north of Washington Square Park, has seen a sea change in tenancy in recent years.

“The majority of the old tenants are gone, replaced by an amazing roster of new businesses,ˮ said the veteran retail broker. Owners of the Waverly Inn and The Jane Hotel have opened a new high end boutique hotel, called the Marleton House, next to the new stores. Stumptown Coffee opened their only New York City location at the corner of Eighth Street and MacDougal, and Neta, a Michelin-star Japanese restaurant, has been operating for more than a year.

Other eateries and bars include Eighth Street Wine Cellar, Greenwich Project, Village Pisco, and the Elephant Club. Quick serve restaurants Insomnia Cookies, 5 Oz Factory, Burger Joint and Growler Station have also opened up.

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