A view of the Meatpacking District, which, despite seeing an increase in foot traffic because of the High Line, has seen retail rents remain soft.
From the September issue: In the late 1990s, Jeffrey Kalinsky, a former Barneys shoe buyer, started scoping out the Meatpacking District to find a home for Jeffrey, his high-end clothing store. At the time, the cobblestone streets were lined with meat purveyors and art galleries; retail rents were in the mid-$20s per square foot.
When Kalinsky opened his 12,000-square-foot shop, a mini department store carrying exclusive brands, at 449 West 14th Street in 1999, he accelerated a fashion domino effect that soon turned the Meatpacking District into a trendy see-and-be-seen neighborhood studded with designer boutiques and late-night restaurants. [more]
