The Real Deal New York

Posts Tagged ‘manhattan retail’

  • Toys R Us Times Square

    Toys R Us store in Times Square

    The employees of the Toys R Us flagship in Times Square may want to hold off on splurging on gifts this holiday season.

    The New Jersey-based toy store chain informed the New York State Department of Labor that it plans to lay off 373 employees when it closes its store at 1514 Broadway, between West 44th and 45th streets. [more]

  • 817 Madison Avenue on the Upper East Side (inset, from left: William and Rick Friedland)

    817 Madison Avenue on the Upper East Side (inset, from left: William and Rick Friedland)

    An Upper East Side co-op board that’s dead-set against a single-story retail extension by Friedland Properties has received a lawsuit from the developer, which claims it’s losing huge sums of money due to halted construction. [more]

  • Tourneau’s new store at Sixth Avenue and 42nd Street

    Tourneau’s new store at Sixth Avenue and 42nd Street

    From Luxury Listings NYC: On Monday, luxury watch retailer, Tourneau, celebrated its 115th Anniversary with a ribbon cutting ceremony for their new Bryant Park store at 3 Bryant Park. [more]

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  • NoMad Retail

    Rendering of retail at 1204-1216 Broadway in NoMad (inset: Gregory Cohen)

    Wholesale perfume, jewelry and beauty supply stores have long populated the stretch of Broadway between 29th and 30th streets, which until recently seemed immune to Manhattan’s retail boom. But that’s changing with the development of projects such as Virgin Hotel’s NoMad Center, which has landlords sensing an opportunity to bag pricier tenants. [more]

  • From left: Harry Macklowe, 432 Park Avenue and a map depicting 36 East 57th Street (in orange) and 432 Park

    From left: Harry Macklowe, 432 Park Avenue and a map depicting the location of 36 East 57th Street (in orange) relative to 432 Park

    With a move to demolish a five-story building adjacent to 432 Park Avenue, Macklowe Properties appears to be eyeing an expansion of the skyscraper’s retail footprint. [more]

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  • From left: 719 Seventh Avenue and SL Green CEO Marc Holliday

    From left: 719 Seventh Avenue and SL Green CEO Marc Holliday

    SL Green has picked up a corner property at Seventh Avenue and 48th Street. [more]

  • The Waldorf-Astoria at

    The Waldorf-Astoria at 301 Park Avenue

    Hilton Worldwide is planning a retail upgrade at its landmark Waldorf Astoria Hotel, company president and CEO Christopher Nassetta announced during a May 9 conference call. [more]

  • neiman

    From left: Hudson Yards retail complex rendering and Neiman Marcus in Paramus, N.J. (Inset: Faith Hope Consolo)

    High-end department store Neiman Marcus is close to locking down space at Hudson Yards for its new flagship store. [more]

  • From left:

    From left: H&M, Urban Outfitters and Room & Board

    From the January issue: With record numbers of residents and tourists filling the streets, New York City retail rents cracked what might be called the “crystal ceiling” in 2013, when asking rents for the city’s most sought after strip, Upper Fifth Avenue, topped a median price of $3,000 per square foot. [more]

  • From left: Faith Hope Consolo and Louis Vuitton's Madison Avenue outpost at 1 East 57th Street

    From left: Faith Hope Consolo and Louis Vuitton’s Madison Avenue outpost at 1 East 57th Street

    As European fashion houses and high-end newcomers remain undeterred by rising retail rents, rates are expected to continue their skyward climb in 2014. [more]

  • alternatetext
    Macy’s Christmas display

    From the December issue: With the holiday shopping season now in full swing, TRD assesses the ever-rising retail market in New York City. This month, we not only look at escalating rents and values, but also what drives spending — including foreign tourists, the spread of chain stores and outer-borough gentrification. [more]

  • From left: Adam Spies, 114 Prince Street and Douglas Harmon

    From left: Adam Spies, 114 Prince Street and Douglas Harmon

    Retail real estate investor Bobby Cayre’s planned $42 million acquisition in Soho would be the highest price per square foot ever paid for Soho retail. The 2,750-square-foot ground floor retail space at Soho’s 114 Prince Street would set him back a record $15,336 per square foot. [more]

  • From left: Fifth Avenue in Manhattan and Causeway Bay in Hong Kong

    From left: Fifth Avenue in Manhattan and Causeway Bay in Hong Kong

    Fifth Avenue may be known for its astronomical retail rents, but it remains a distant second to Hong Kong’s Causeway Bay, according to a report from Cushman & Wakefield. Average retail rents on Fifth Avenue were $2,500 per square foot, holding steady from last year, according to the report. [more]

  • Macy's at 34th Street in Herald Square

    Macy’s at 151 West 34th Street in Herald Square

    Macy’s flagship store on 34th Street is getting a $400 million makeover. The four-year renovation project will be completed in 2015 and will add 100,000 square feet of retail space to the store, bringing the total retail space in the store to 1.2 million square feet. [more]

  • Times Square and REBNY’s Steve Spinola

    The bulk of major retail corridors in Manhattan have seen high annual jumps in average asking rents — as much as 55 percent compared to the same period last year, according to a Real Estate Board of New York retail market report issued today. [more]

  • JCPenney signed a lease for roughly 38,000 square feet of retail space at 200 Lafayette Street.

    From the January issue: As tourists continued to flock to Gotham in record numbers, New York City retail saw a banner 2012: Nordstrom announced it would take 285,000 square feet of space at Extell’s under-construction One57 tower, and one of the retail condos at the base of 666 Fifth Avenue sold to Vornado for $707 million. In the third quarter of last year alone, retail rents shot up 30 percent in the Herald Square area and 23 percent both on Upper Fifth Avenue and in Times Square, according to data from the CBRE Group. And the Lower Fifth Avenue market — the stretch from 42nd to 48th streets that has recently seen higher-end retailers replace souvenir shops — continued to burgeon, adding clothing designers Joe Fresh, Ted Baker and Aritzia to its list of increasingly up-market tenants. [more]

  • Eastern Consolidated’s chief economist Barbara Byrne Denham and 666 Fifth Avenue, which help retail jumo 729 percent, with Vornado’s $707.8 million purchase.

    Manhattan’s retail property sales volume surged in the fourth quarter, posting sevenfold increase,  its strongest performance since 2007, according to preliminary data from Eastern Consolidated, cited by the New York Observer. The final quarter of 2012 saw nearly $13 billion in sales volume, which is the best increase since record-breaking sales volumes — fueled fears of impending capital gains taxes — were posted. The market peaked in the second quarter of 2007 at $19 billion. “This was definitely fiscal-driven growth,” Barbara Byrne Denham, Eastern Consolidated’s chief economist, said.  “Sellers wanted to cash out and buyers knew it, so they were eager to come to the table as well.” … [more]

  • Steven Spinola, president of REBNY, and Mary Ann Tighe, REBNY chairperson

    Average asking rents are continuing to climb in some major Manhattan retail corridors due to high demand and a limited availability of space, according to the Real Estate Board of New York’s fall Manhattan retail market report, which was released today. Overall in Manhattan, however, asking rents were down 4 percent from the spring and 2 percent year-over-year due to prime spaces already being occupied by tenants.

    One of the areas that stands out is lower Fifth Avenue, between 42nd and 49th streets. In fall 2012, average asking rents ticked in at $1,021, up 13 percent from the spring 2012 figure of $900 and a cool 51 percent increase from the same period last year when the average came in at $675. [more]