Content about New York City

May 14, 2013
New York City second to Hong Kong in world’s highest retail rents

CBRE Group released research findings on Tuesday that showed Hong Kong continued to keep its top spot as the world's most expensive global retail market, recording prime rents nearly 150% higher than New York City.

Los Angeles -- CBRE Group released research findings on Tuesday that showed Hong Kong continued to keep its top spot as the world's most expensive global retail market, recording prime rents nearly 150% higher than New York City.

London ranked third, with prime rental rates 400% lower than Hong Kong’s.

May 7, 2013
Chefs On Fire

In New York City, Philadelphia, Washington, D.C., Denver — and other major cities across the country — creative young chefs are opening their own restaurants.

"In New York, the trend isn't all that new. Think of Andre Soltner, Jean-Georges, David Chang and others," said Faith Hope Consolo, noted trend-watcher and chairman of Douglas Elliman's Retail Group in New York City.

Indeed, we probably shouldn't call it a trend any more. In a growing number of cities, chef-owned restaurants are a mainstay of rising urban neighborhoods.

May 7, 2013
Target opens pop-up dollhouse in Grand Central Station

Target isn’t letting any grass grow under its feet when it comes to the suddenly hot category of home goods and home furnishings.

New York -- Target isn’t letting any grass grow under its feet when it comes to the suddenly hot category of home goods and home furnishings. The discounter has installed a giant, two-story dollhouse — some 21 ft. high and occupying some 1,500 sq. ft. of space — smack in the middle of Vanderbuilt Hall in New York City’s Grand Central Station. The temporary installation is designed to promote Target’s new Threshold brand and is completely furnished and accessorized with furniture, decor, and housewares from the collection.

May 6, 2013
A Fashion First

When The Mall at Bay Plaza opens to the public in 2014, adjacent to the highly successful outdoor Bay Plaza Shopping Center, it will be heralded as the first enclosed fashion mall in the New York City area in nearly 40 years.

When The Mall at Bay Plaza opens to the public in 2014, adjacent to the highly successful outdoor Bay Plaza Shopping Center, it will be heralded as the first enclosed fashion mall in the New York City area in nearly 40 years.

That’s big news. Particularly at a time when new development has taken a back seat to redevelopment of existing assets.

May 6, 2013
Blink Fitness to open in new Chelsea Development

Winick Realty Group said that Blink Fitness will open a 15,500-sq.-ft. facility at the base of Chelsea Park, a new residential building located at 260 West 26th St. in New York City.

New York -- Winick Realty Group said that Blink Fitness will open a 15,500-sq.-ft. facility at the base of Chelsea Park, a new residential building located at 260 West 26th St. in New York City.

Blink will have a ground-floor entrance at 308 Eighth Avenue, which will lead down to an expansive lower-level gym. The 12-story building is currently home to 204 luxury rental apartments ranging from studios to two-bedroom units.  

 

May 6, 2013
E-commerce brand Bonobos to make offline debut in NYC

RKF has arranged a 1,500-sq.-ft. lease at 35 Crosby Street in SoHo for men’s e-commerce apparel brand Bonobos, which will open its first stand-alone Guideshop location in New York City.

New York -- RKF has arranged a 1,500-sq.-ft. lease at 35 Crosby Street in SoHo for men’s e-commerce apparel brand Bonobos, which will open its first stand-alone Guideshop location in New York City.

Bonobos currently operates five other brick-and-mortar locations elsewhere.

In the cast iron district of SoHo, the retailer will operate in 1,000 sq. ft. on the ground floor and 500 sq. ft. on the lower level of the seven-story building. The new store is slated to open in mid-May.

 

April 18, 2013
Howard Hughes Corp. taps RKF to lease South Street Seaport

Following unanimous approval in March by the New York City Council for the redevelopment of Pier 17, The Howard Hughes Corp. said it has named RKF as the exclusive consultant and leasing agent for the South Street Seaport.

New York -- Following unanimous approval in March by the New York City Council for the redevelopment of Pier 17, The Howard Hughes Corp. said it has named RKF as the exclusive consultant and leasing agent for the South Street Seaport.

April 15, 2013
Tiffany & Co., New York City

Tiffany & Co.’s dazzling jewel box in downtown Manhattan’s SoHo neighborhood captures the retailer’s signature elegant feel and heritage of craftsmanship.

Tiffany & Co.’s dazzling jewel box in downtown Manhattan’s SoHo neighborhood captures the retailer’s signature elegant feel and heritage of craftsmanship. The interiors of the 7,000-sq.-ft. store, the jeweler's third outpost in New York City, were designed by select artisans who put their own spin on some traditional Tiffany design motifs.

April 15, 2013
Tiffany & Co., New York City

Tiffany & Co.’s dazzling jewel box in downtown Manhattan’s SoHo neighborhood captures the retailer’s signature elegant feel and heritage of craftsmanship.

Tiffany & Co.’s dazzling jewel box in downtown Manhattan’s SoHo neighborhood captures the retailer’s signature elegant feel and heritage of craftsmanship. The interiors of the 7,000-sq.-ft. store, the jeweler's third outpost in New York City, were designed by select artisans who put their own spin on some traditional Tiffany design motifs.

April 4, 2013
Fairway Market grocery chain to go public

New York City-based supermarket chain Fairway Market is going public.

New York -- New York City-based supermarket chain Fairway Market is going public. The company said in a regulatory filing Thursday that it expects its stock to price in the range of $10 to $12 per share as it looked to raise as much as $164 million.

Fairway operates 12 locations in the greater New York City metro area and in on track to open a store this summer in Manhattan's Chelsea neighborhood and one in Nanuet, N.Y, in the fall.
 

March 25, 2013
Saks names NYC flagship director

Saks Fifth Avenue announced Monday that John Cruz has been named SVP and director of the New York City flagship store, effective April 29.

New York -- Saks Fifth Avenue announced Monday that John Cruz has been named SVP and director of the New York City flagship store, effective April 29.

Cruz currently serves as VP and general manager of the company’s Beverly Hills store. He has worked at the NYC store before – as general manager 2005-2007 and VP and GM 2007-2010.

Cruz replaces Suzanne Stemper-Johnson, who is leaving Saks to pursue other interests.

 

March 22, 2013
Garrison acquires Louisiana Boardwalk, to rebrand as outlet center

Garrison Investment Group of New York City announced it has acquired Louisiana Boardwalk, a 562,520-sq.-ft. open-air, mixed-use development on the waterfront of Bossier City, La.

Bossier City, La. -- Garrison Investment Group of New York City announced it has acquired Louisiana Boardwalk, a 562,520-sq.-ft. open-air, mixed-use development on the waterfront of Bossier City, La.   

Garrison has retained outlet consultant EWB Development to lease and marketing the center as an outlet destination. The converted retail center will be relaunched as The Outlets at Louisiana Boardwalk.

March 22, 2013
Tiffany Q4 beats Street

Tiffany & Co.’s fourth-quarter net income inched up 0.7%, but its results still topped analysts’ predictions as strong demand in Asia helped to offset domestic weakness.

New York -- Tiffany & Co.’s fourth-quarter net income inched up 0.7%, but its results still topped analysts’ predictions as strong demand in Asia helped to offset domestic weakness. The company also offered an annual sales outlook that topped analysts' estimates, citing its strong prospects in most Asian markets.
    
For the quarter ended Jan. 31, Tiffany earned $179.6 million, compared with $178.4 million in the year-ago period. Revenue increased 4% to $1.24 billion.
     

March 21, 2013
City Sports opening 11,000-sq.-ft. store in Manhattan

City Sports announced that it will open its 22nd retail location in New York City, on March 26.

Boston -- City Sports announced that it will open its 22nd retail location in New York City, on March 26. It will be City Sports' third location in New York City.

The new store, in the city’s financial district, will be the company’s largest retail location to date, with nearly 11,000 sq. ft. of selling space devoted to athletic apparel, footwear and equipment.

"We are absolutely thrilled to be opening a third retail location in New York City," said City Sports president and CEO Edward Albertian.

March 15, 2013
Beyond Cost-Cutting

Retailers are putting an increased emphasis and value on how and when they use their workforce. And in doing so, they are on the right path, according to research from The Wharton School. The study found the associate payroll was the most important factor in determining revenue. A mere additional dollar (properly applied) on labor could reap rewards of $4 to $28 in return.

March 15, 2013
Citi Trends narrows loss in Q4

Citi Trends reported a fourth quarter loss of $704,000, narrowed from a $5.3 million loss in the same period last year.

Savannah, Ga. -- Citi Trends reported Friday a fourth quarter loss of $704,000, narrowed from a $5.3 million loss in the same period last year.

Revenue slipped 2% to $175.7 million, meeting Wall Street forecasts. Same-store sales plummeted 11.8%.

 

March 15, 2013
Criminal Background Checks

The use of criminal background checks by employers is being closely watched.

Concerns that convictions among African Americans and Hispanics were causing hiring discrimination, the Equal Employment Opportunity Council has issued new guidelines regarding employer use of criminal records under Title VII of the Civil Rights Act of 1964. According to the Pew Center on the States 2010 study, while one in every 87 white men in America have been incarcerated, among Hispanics it is 1-in-36 and blacks it is 1-in-12.

March 15, 2013
Focus on: Mobility

Mobility is sure to play an increasingly important role in Macy's omnichannel future, both in commerce and marketing. But don't look for the company to take a cookie-cutter approach.

March 15, 2013
Healthcare Update

Retail companies should expect this year and 2014 to be a wild roller coaster ride of health insurance changes for retailers. That assessment came from Neil Trautwein, VP, employee benefits, National Retail Federation, who said that retailers need to take prudent actions to comply with the requirements of the Affordable Care Act (ACA).

March 15, 2013
The Spark Behind Sephora

HEADQUARTERS San Francisco

TYPE OF BUSINESS Beauty and fragrance retailer

NUMBER OF STORES 1,600 global locations, including 325 stores in North America and 386 in-store shops in J.C. Penney

Beauty and cosmetics retailer Sephora is ignited not only by its highly trained cast of associates and smart, forward-thinking approach to in-store digital, but also by the man behind the black, white and red store design.

March 14, 2013
Manhattan’s Herald Square to be transformed

Herald Center, the giant 10-story, 250,000-sq.-ft. black glass retail and office property at the southwest corner of 34th Street and Broadway in Manhattan, is about to undergo a major transformation under long-time owner JEMB Realty.

New York -- Herald Center, the giant 10-story, 250,000-sq.-ft. black glass retail and office property at the southwest corner of 34th Street and Broadway in Manhattan, is about to undergo a major transformation under long-time owner JEMB Realty. The property will be completely reclad to create a new leasing opportunity encompassing more than 50,000 sq. ft. of prime retail space at one of the most heavily trafficked, high-visibility corners in the world.

March 5, 2013
City Sports to open largest store to date, in NYC’s Financial District

City Sports announced plans for two new stores, including its largest store to date, in New York City’s financial district.

Boston -- City Sports today announced plans for two new stores, including its largest store to date, in New York City’s financial district. Slated to open at the end of March, the bi-level, 10,500-sq.-ft. space will feature an open floor plan and many other details that nod to the building's origins as a bank. The store will be City Sports' third location in NYC.

In addition, the chain announced a new location for its Chestnut Hill, Mass., store, set for a March 16 opening to coincide with the brand's 30th anniversary.

March 4, 2013
SRS Real Estate negotiates new leases for Sleep Number

Dallas-based SRS Real Estate Partners said that Select Comfort Corp., which operates the Sleep Number Store, has leased several new locations in and around New York City.

New York -- Dallas-based SRS Real Estate Partners said that Select Comfort Corp., which operates the Sleep Number Store, has leased several new locations in and around New York City.

In Danbury, Conn., the company leased 2,580 sq. ft. at the Shops at Marcus Dairy, an 80,000-sq.-ft. shopping center tenanted by Whole Foods, Eastern Mountain Sports and Panera Bread.

March 1, 2013
Lane Bryant opens NYC flagship

Lane Bryant announced the opening of its new 7,835-sq.-ft. flagship in New York City.

New York -- Lane Bryant announced the opening of its new 7,835-sq.-ft. flagship in New York City.

Located near Herald Square, the store has a feminine, contemporary look and features such amenities as fitting rooms with lighting that can be adjusted to office, daylight and evening settings. New imagery and design is prominent throughout the store, plus fixtures that allow for high-impact merchandise displays.

Lane Bryant, a wholly owned subsidiary of Ascena Retail Group, operates 805 stores.

 

February 21, 2013
Winick Realty named broker for Chipotle

Winick Realty Group announced that it is exclusively representing Chipotle Mexican Grill in its leasing efforts throughout Northern New Jersey, Long Island and all five boroughs of New York City.

New York -- Winick Realty Group announced that it is exclusively representing Chipotle Mexican Grill in its leasing efforts throughout Northern New Jersey, Long Island and all five boroughs of New York City.

The Winick team is seeking 1,600-sq.-ft. to 2,300-sq.-ft. sites in these markets. Since opening its first Manhattan location in 2003, Chipotle has grown to 60+ locations in New York City, Long Island and Northern New Jersey.