Sizing up South Street Seaport

The burgeoning neighborhood was slammed by Hurricane Sandy, but brokers say the damage is impacting retail more than residential

TRD New York /
Jan.January 29, 2013 10:00 AM

From the January issue: The South Street Seaport had to forgo its usual stream of shopping bag–toting tourists this holiday season as it continued to recover from the devastation it suffered during Hurricane Sandy. Indeed, while the Pier 17 mall, which juts out onto the East River, has reopened, some of the businesses (along with a bunch of others in the neighborhood) remain shuttered. “For the first time, I think the South Street Seaport may really sink,” Faith Hope Consolo, chairman of Douglas Elliman’s retail group, told the Wall Street Journal in late November. This month, The Real Deal checked in with residential brokers who work in the burgeoning area — which has seen a burst of New Residential Development Since The Fulton Street Fish Market relocated to the Bronx in 2005 — to see how sales and rentals are holding up. [more]

Related Articles

John Giannone and Jac Credaroli (Credit: iStock)

Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans

Jacob Sudhoff and Scott Durkin (Credit: Sudhoff Companies, Emily Assiran, iStock)

Douglas Elliman is coming to Texas

Douglas Elliman chairman Howard Lorber (Credit: Getty Images and iStock)

Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax

Mayor Bill de Blasio and subway damage caused by Hurricane Sandy (Credit: Getty Images)

Program to rebuild Sandy-damaged homes needs extra $92M

Army Corps of Engineers Commander Lt. Gen. Todd Semonite and flooding caused by Hurricane Sandy in 2012 (inset) (Credit: Getty Images)

A $119B seawall still might not protect Manhattan, critics say

Faith Hope Consolo (Credit: Getty Images, iStock)

The real story behind Faith Hope Consolo’s glamorous life

(Credit: iStock)

More bidding wars for Brooklyn and Queens homes last quarter

(Credit: iStock)

Luxury rents up across the city