As wealthy families forego the suburbs, tot shops expand in New York City

July 21, 2011 02:46PM

With more and more affluent young families opting to stay in the city rather than flee to the suburbs as was typical of previous generations, retailers are attempting to capitalize on New York City’s growing kids’ market. Real Estate Weekly took note of the tot-centric shops that have recently sprung up across the five boroughs, among them, Brooks Brothers’ first children’s store in Manhattan, located on Madison Avenue and 86th Street, and the New York Kids Club play center, which has opened five Manhattan locations over the past decade, and is now looking to expand in Brooklyn. Meanwhile, kids’ clothing retailer Giggle, which already has stores in Soho and on the Upper East and Upper West sides, is hunting for new sites in Long Island City. Gary Alterman, a retail broker at Robert K. Futterman & Associates who works with New York Kids Club, said he has seen “a proliferation of private schools” to accommodate the growing demand amongst wealthy parents. He also said he expects children’s retailers to set their sights on the suburban-like Roosevelt Island next. [REW]