COMMERCIAL OFFICE
RETAIL
TOURISM & HOSPITALITY
RESIDENTIAL
MAJOR PROJECTS UPDATE
RETAIL MARKET New Openings and Announcements Westfield World Trade Center welcomed new retailers to the complex, including Korean beauty brand Innisfree, Sweetcatch Poke and Market Lane, an 11,000-square-foot food hall. More food options are on the horizon with Just Baked, Doughnut Plant and Taco Dumbo to open later this year. Over 50,000 square feet of retail and restaurant space at the base of 3 World Trade Center are expected to open later in 2019. At Brookfield Place, SuitSupply expanded, while Monica+Andy, a children’s boutique, and Amazon Go opened. Later this year, Clean Market, a wellnessoriented store and Sant Ambroeus, the chic Italian restaurant, will open. Shakespeare & Co., an independent bookstore, announced plans to open in early 2020. In the Seaport District, The Rooftop at Pier 17 opened its second concert season. At the base of Pier 17, The Fulton, a seafood restaurant by Jean-Georges Vongerichten opened in late April, while Bar Wayō, a Japanese bar and restaurant by David Chang, opened in late July. Later this summer, McNally Jackson Books will open at 4 Fulton Street. Restaurants by Andrew Carmellini and Malibu Farm are expected to open later this year.
Photo by Alex Staniloff, Courtesy of The Fulton
The Fulton, a seafood restaurant, by Jean-Georges Vongerichten opened on Pier 17 in the Seaport District.
Twenty-four new retailers opened in Lower Manhattan in the second quarter, including:
•
Coco Bistro, a French restaurant and wine bar, opened at 233 Front Street in the Seaport;
•
Playa Bowls, an acai and smoothie shop, opened in the shopping concourse at One New York Plaza;
• •
For Five Coffee at One Liberty Plaza;
•
Three Mexican restaurants announced plans to open: Tacombi at 74 Broad Street, Mezcali at 83 Maiden Lane and Los Tacos No. 1 at 136 Church Street.
Sweetgreen opened at 125 Chambers Street, Archive Wine & Spirits at 270 Greenwich Street and Dr Smood at 210 Murray Street; and
Courtesty of Shutterstock
Shakespeare & Co. announced plans to open at Brookfield Place, while McNally Jackson will open in the Seaport District later this summer.
Retail Rents Rise According to the Real Estate Board of New York’s spring retail report, average asking rents for ground floor retail along Broadway (Battery Place to Chambers Street) were $401 PSF, up around 9% from spring 2018 and 19% from fall 2018, setting a record for Lower Manhattan. Asking retail rents for ground floor spaces in Lower Manhattan range between $150 and $625 PSF. Average ground floor retail rents have decreased in corridors across Manhattan, except for 125th Street in Harlem.
Lower Manhattan Real Estate Market Overview| Q2 2019
Courtesy of Coco Bistro
Coco Bistro, a French restaurant & wine bar, opened at 223 Front Street in the Seaport. 5
