Retailers previously priced out of Soho and the Upper East Side are taking advantage of falling rents and opening shops. Rents in the city fell an average of 11 percent between fall 2008 and spring 2009, Crain’s New York Business reported. Soho and Nolita are expected to see the biggest drop in rent this year — about 20 percent. Shoe store Camper recently signed a one-year lease on Madison Avenue at 59th Street for about $500 a foot, and thrift shop Housing Works just opened its ninth location in the city on Crosby Street in Soho. In addition, sneaker store Flight Club just leased its third Manhattan location on Lafayette Street for just $70 a foot. Brokers said the space could have fetched $200 a foot last year.
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TWEETS
- This week, @DouglasElliman dominates @trdny's "Top Residential Agents" list, scoring three of the top five spots. http://t.co/WuwFfoQI 10:26:54 PM May 25, 2012
- Here's some #NYC residential sales data before you head off to the #Hamptons via @trdny http://t.co/41pt08N4 08:54:27 PM May 25, 2012
- Marcia Gay Harden gets $2.8M for #Harlem townhouse listed by@cathytaub of @StriblingNYC http://t.co/pR718yY4 via @trdny 08:47:36 PM May 25, 2012
- Boymelgreen, Africa Israel settle with @AGSchneiderman over 20 Pine St. construction, but face new $20M suit http://t.co/wYyqrfBP via @trdny 08:16:42 PM May 25, 2012

