Tenants already ditching the Limelight

TRD New York /
Apr.April 18, 2011 10:01 AM

Chelsea’s Limelight Marketplace — the church-turned-nightclub-turned-retail mall on Sixth Avenue and 20th Street — debuted to much fanfare less than a year ago but has already begun to shed tenants. According to Crain’s, foot traffic has plummeted since the initial hype surrounding the property’s $15 million conversion, and now there are grumblings of poor management amongst the vendors that remain. Tenants at the 30,000-square-foot venue are mostly small businesses for whom this is their first retail location. Alongside them were more established brands, like LeSportsac and Hunter Boots, both of which have since ditched their spots there. Grimaldi’s, the popular Brooklyn-based pizzeria, didn’t open at the Limelight until February, by which time things had already started to go downhill. Critics have pointed to the venue’s lack of focus — gifts, clothing and food are all currently on offer — as a reason for its failure to draw shoppers. Entrepreneur Jack Menashe, who spearheaded the conversion project, now says he hopes to transform the space into a haven for high-end fashion tenants, with French Connection, Edwing D’Angelo and Covert Shoe Lab all slated to open in the coming months. [Crain’s]


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
From left: SL Green CEO Marc Holliday, Ceruzzi Properties’ Arthur Hooper, the Lipstick Building at 885 Third Avenue and IRSA president Eduardo Elsztain (Getty, Wikipedia, Google Maps)

Lipstick Building ground rent reset leads to appraisal dispute

Lipstick Building ground rent reset leads to appraisal dispute
Knotel CEO Amol Sarva (Sasha Maslov, iStock)

Knotel’s Q2 revenue plunged 20%

Knotel’s Q2 revenue plunged 20%
Heirs unapparent: How RE firms plan — or don’t — for futures without the founder

Heirs unapparent: How RE firms plan — or don’t — for futures without the founder

Heirs unapparent: How RE firms plan — or don’t — for futures without the founder
Ziel Feldman (iStock)

HFZ Capital launches new fund for REIT investing

HFZ Capital launches new fund for REIT investing
Privacy is the newest amenity

Privacy is the newest amenity

Privacy is the newest amenity
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...