Retail -rich retailers are destroying some of the best NYC roads

Is everything that is finally coming roses for city shops? PERHAPS

The retail speed throughout the city has increased by 14%, year by year. This represents over 3.5 million square meters for rent and new renovations – and according to CBre, the number of stores available on the main shopping roads has declined.

This is good news for buyers. It is a situation that parallels the divided market of Manhattan offices, said Winick Realty Group Lee Block. Retail sellers want better spaces and are willing to pay the highest dollar for them.

“Flight to quality has been a big theme in the office world, and it also works in the retail world,” Block said, referring to the question of luxury officials he is pouring into some Class B buildings, but leaves most C owners in Lurch while promoting residential conversions.

The addition of competition is new to NYC retailers, who have climbed 24 deals that cheated 205,000 square meters in the first quarter, according to CBre.

For example, comprehensive art experience, Meow Wolf, leased over 74,000 square meters to Pier 17 in South Street Seaport for its first NYC location. And Seaview Productions, the group behind the “good night and the good fortune of George Clooney”, rented the second phase theater 16,679 square meters in 681 eight. near Times Square.

If fact, Times Square has always been a target for big retailers, with stores like Sevenhora Open until 11:00 to serve late day, before and apprès-Broadway show crowds. “It is the busiest country,” said Gene Spiegelman from Ripco.

At the end of last year, Lincoln Market signed to bring its supermarket to a 35,809 square meter space left by Lucky Strike Bowling in Silverstein Properties’ Place Place at 650 W. 42nd St.

However, Times Square still has massive holes, such as 91,000 square meters that Forever 21 will give up from 1540 broadway of vorning and 58,000 square meters ABC is leaving at 1500 broadway.

Another sign of life comes from Manhattan ultra-competitive restaurants, who ate 171,000 square meters in 39 Manhattan deals. Among them is the chef of Michelin Masaharu Morimoto which will happen 17,600 square meters in 1255 broadway in Nomad. Michelin Steakhouse Maple & Ash of Chicagos for rent nearly 17,000 square meters in Ave. of America and Vorning’s stk in Vorning will open at 12,600 square meters in 200 Park Ave. South.

Old Navy is giving up 150 W. 34TH St.

Looking further in the city center, vacancies along the Broadway in Soho are almost missing.

Crocs leased a new flag to 543 Broadway, and New Balance will ride in 542 Broadway. Calvin Klein signed to open a flag at 530 Broadway and Gu opened at 668-678 Broadway. The Chinese fast -fashioned urban reviewer opened the first US store to 30,000 square meters in 515 broadway.

“Global Stillet brands consider New York for the start of the pillow to expand their business,” said Spiegelman who represented the urban resurrection. “The top of their list is soho.”

Adidas will move its flag from 115 spring to 8,700 square meters to 135 spring. Ray-Ban renovated his 7,000 square legs at 116 Wooster and is building a new global flag at 62 princes. Moreover, 7 for all the jeans of mankind renewed 5,500 square meters to 392 W. Broadway.

While the highest priced space was rented, renting Prime Minister Prince Street dropped to $ 750 per foot, down 24% quarter over the quarter and 30% year by year, according to CBre.

The competition for the best soho spaces is now so tough that even the biggest fish are being offered. For example, Lvmh is firing for a corner location for Tiffany & Co. (Now at 97 Green St.) – But it is already lost in space as the new location of the Ferrari space once Nespresso in 92 Prince St. Which may have rented for $ 1,800 per foot, Apple’s location at 103 Prince and Ralph Lauren’s Dards in 109 Prince Prince, which bought only for $ 132.

“Everyone is missing a lot and uncertainty is affecting.”

Matthew Siegel of Lantern real estate

“Hard hard to find space in Prince, Greene or spring – you almost have to pay the main money,” said Richard Hodos from Jll.

Like Ralph Lauren, some stores are tired of playing games. They are simple by buying their space completely.

To take advantage of the rage of both investors and retailers trying to look at the main places, CBre is offering 115 spring for sale on behalf of SL Green as a 5,100 -square -foot store, with two levels will be free when Adidas is moved to 135 spring spring. Uptown, Chanel is in talks to buy 60,000 square meters at the base of Gary Barnett’s next luxury tower at 655 Madison Ave., according to The Commercial Observer and, if the former Barney’s election at 660 Madison must have the families holding their future goals.

Meanwhile, B&H Photo paid $ 150 million to buy 333 W. 34th St.

Despite, the stock market of global tariffs are still at the top of everyone’s minds.

“We are seeing our customers prepare for the impact and implications of tariffs on both consumer behavior and input costs, ”said Matthew Siegel of Lantern Real Estate.