The Real Deal

• Email this article
• print
• Comments(3)

Bargains go beyond $9.99 in Garment District

Asking rents for three retail spaces at 275 Seventh Avenue are $165 a square foot, far lower than what they were during the boom.

From the September issue: There are bargains to be had in the Garment District -- and not just for $9.99 sweaters. Seventh and Eighth avenues in the 20s and 30s are a retail renters' market, with rents among the lowest in Manhattan today, sources said. In some cases, they're a steep discount compared to prices in adjacent neighborhoods such as Chelsea, where rents are about 30 percent higher. While the area has long been one of the most affordable commercial neighborhoods in Manhattan, the deals there have sweetened even more lately, as rents across the city have nosedived. At the same time, more than a dozen retail locations in the area, particularly along Seventh Avenue in the 20s, are either in the process of changing hands or have recently come on the market. more