The Real Deal New York

Lower Broadway regains popularity with retailers

Among the new retailers are Urban Outfitters, sushi restaurant Nobu and Zara

February 17, 2015 08:15AM

From left: Harry Macklowe, 1 Wall Street and the Fulton Transit Center

From left: Harry Macklowe, 1 Wall Street and the Fulton Transit Center

It’s time to start shopping on Lower Broadway. 

The most southern part of the corridor is “blossoming after years of neglect,” according to the New York Post, which is resulting in a new flock of retailers coming to the area.

Over the years, water main breaks, the 9/11 terrorist attacks and the construction of the Fulton Transit Center made it hard to both pedestrians and drivers to get through the area, the newspaper reported. Now, retail is catching up, with retailers such as Gap and Zara opening up. Urban Outfitters has opened up a location in a new, 23-story Pace University dormitory. Nobu, the famed sushi restaurant, recently announced it will be moving to 195 Broadway by 2017.

Another example is Harry Macklowe’s plan to add a significant retail component to 1 Wall Street, which he bought for $585 million, according to the newspaper. The developer is planning to convert the iconic building into a residential development.

“Broadway is the spine of Lower Manhattan, and people should know that the energy of the World Trade Center and Brookfield Place is expanding west and south through the district,” Downtown Alliance president Jessica Lappin told the newspaper. [NYP] — Claire Moses

 

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