From left: Dean Rosenzweig, vice president of retail services at CB Richard Ellis, and Manhattan locations of Think Coffee, Starbucks and Ninth Street Espresso
Perhaps because of changing tastes, a widespread backlash against Starbucks or lower retail rents, high-end coffee shops are making their mark on New York City real estate and expanding rapidly.
As the New York Times reported, Ninth Street Espresso, Roasting Plant, Jack’s Stir Brew, Gregory’s Cafe, Think Coffee, MUD, Blue Bottle Coffee, Cafe Grumpy, Stumptown Coffee Roasters, Intelligentsia Coffee and Joe the Art of Coffee are just some of the new breed of coffee makers, homegrown or imported from elsewhere in the country, that have descended upon the city with multiple locations in the last few years.
Coffee shops depend on volume so many are opening in office neighborhoods, retail brokers say, although the addition of baked items and packaged beans help them stay viable in residential neighborhoods where rents can be lower. … [more]