Fashion brands ditch Meatpacking District for Columbus Avenue

TRD New York /
Jan.January 23, 2012 09:30 AM

While high rents are cooling the retail leasing environment in the trendy Meatpacking District, years of construction have pushed rents down on Columbus Avenue in the Upper West Side and suddenly fashion outlets are flocking to the uptown thoroughfare.

Citing Massey Knakal figures, Crain’s reported that there are at least two dozen availabilities along 14th street west of Fifth Avenue. Though the storefronts aren’t vacant, they are facing expiring leases with tenants who won’t renew at the going rate of more than $350 per square foot (at 837 Washington Street, asking rents will be set at $600 per square-foot). For instance, designer Stella McCartney fled the district for Soho in a highly publicized move. However, previous reports have said that the vacancies will be filled quickly by less exclusive national retailers.

Conversely, fashion retailers, including Helmut Lang, Oska and Polarn O. Pyret, have begun descending upon Columbus Avenue. The avenue had “lost its luster,” according to Ben Fox, executive vice president of retail leasing at Massey Knakal, because years of sewage construction tore it up and pushed rents down. But those lower rents, of about $250 to $300 per square foot, have drawn retailers and evaporated vacancies. [Crain’s]

 

Related Articles

arrow_forward_ios
29 Ninth Avenue (Credit: Google Maps and iStock)

Rolex gliding into the Meatpacking District

Rolex gliding into the Meatpacking District
Nusret Gökçe aka Salt Bae, 413-421 West 14th Street (foreground) and 412 West 15th Street (Credit: Getty Images, iStock)

Rockpoint, Highgate slice $75M off price of Meatpacking site

Rockpoint, Highgate slice $75M off price of Meatpacking site
Aurora Capital Associattes' Jared Epstein (Credit: Getty Images and iStock)

Aurora Capital pitches free rides for Meatpacking shoppers

Aurora Capital pitches free rides for Meatpacking shoppers
RFR buying Meatpacking District building for $130M

RFR buying Meatpacking District building
for $130M

RFR buying Meatpacking District building
for $130M
Meatpacking District office project lands $40M construction loan

Meatpacking District office project lands $40M construction loan

Meatpacking District office project lands $40M construction loan
Medical marijuana dispensary to open second Manhattan outpost

Medical marijuana dispensary to open second Manhattan outpost

Medical marijuana dispensary to open second Manhattan outpost
Luxury retailer Loro Piana to open new shop in Meatpacking District

Luxury retailer Loro Piana to open new shop in Meatpacking District

Luxury retailer Loro Piana to open new shop in Meatpacking District
Paul Massey leases Bryant Park space for new brokerage

Paul Massey leases Bryant Park space for new brokerage

Paul Massey leases Bryant Park space for new brokerage
arrow_forward_ios

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

Loading...