High-End Retailers Eyeing Brooklyn
It was big news for Brooklyn when it was announced last month that Barney’s Co-op would be leasing a 10,465-square-foot storefront space at the Two Trees-owned 194 Atlantic Avenue, and now it appears that the move has spurred other high-end retailers to consider a move to the County of Kings. According to The Times this…
It was big news for Brooklyn when it was announced last month that Barney’s Co-op would be leasing a 10,465-square-foot storefront space at the Two Trees-owned 194 Atlantic Avenue, and now it appears that the move has spurred other high-end retailers to consider a move to the County of Kings. According to The Times this morning, Swarovski Crystal, Anthropologie and North Face, among others, have all begun checking out potential locations. Someone needed to be first, and now that Barneys Co-op has done it, others will follow, said Karen Bellantoni, an executive vice president for the retail brokerage firm Robert K. Futterman & Associates. Brooklyn has the demographics to support this kind of retail, but until now, no national store was willing to take the chance, said Joanne Podell, the executive director of retail services at Cushman & Wakefield. Evidently, many of these potential tenants, like Barney’s Co-op, are targeting Cobble Hill: The economics of Cobble Hill are as good as the Upper East Side or Upper West Side, said Noel Caban, a vice president for retail at CB Richard Ellis. The neighborhood has great demographics and rents are roughly a quarter of what they are in Manhattan hot spots like Soho. One obvious location for a national retailer would be the space at Smith and Atlantic (underneath The Smith) that’s sat empty for the last three years.
High-End Retailers Are Scouting Sites in Brooklyn [NY Times]
Ambivalent feelings about living near a neighborhood economically comparable to the UES.
As I said a few days ago….
The Euro was originally intended to be somewhere around US$0.85 when they finalized the currency “harmonization” process. Obviously, it’s not pegged to the dollar so it can float around. But neither the AWESOME $0.68 exchange rate when I lived in Europe in 2000/2001 nor recent $1.40 was intended. Since Europe is a mix of import-heavy and export-heavy nations, a sustained swing in either direction is not healthy (overall).
If we can get to par by July, it would make the month we’re going to be spending in Berlin all the more affordable!
I dont know that Swarovski would do well in downtown but many higher end stores certainly would.Glad to hear the corner space at Atlantic and Smith might finally rent- the presence of the bail bondsman that some genius rented to in the same building should really help draw those high end tenants.
Anthropologie and North Face maybe nice stores but I would hardly label as ‘high end’. I have no clue what Swarovski crystal is. Nor do I care. Nor am I too excited about area becoming some shopping mall.
Re: the EUR….this technical analysis is as good as any…
Where then is support for the EUR… although a better
question is where is resistance… in the present
environment? 1.2150 has been some minor support,
and our friends at Goldman Sachs foreign exchanges
sales desk in NY remind us that 1.2135 is the 50%
retracement “of the lifetime EURUSD range†and
therefore that level is of rather great importance. At
this point, the difference between 1.2135 and 1.2150 is
nothing. It is “pencil thickness†error when drawing a
trend line that is years in the making. Thus, let’s call it
1.2150 and be done with it. That level must…
absolutely must… hold and it must hold for days and
weeks and months, or the market shall put to test the
bottom of the “The Box†marking the entire EUR bull
run and that means something closer to 1.1650. If
1.1650 is taken out, “Par†becomes a much more likely
reality.
I’m glad I’m not alone here… Swarovski Crystal?! I don’t get it.
Embarrassing!
dibs, I’m sparkly enough. btw the germens really muffed this one up, any idea where the euro is headed? 1.10