New York

New York City is America. With its blend of global commerce, international diversity and culture, entertainment and tourism, this city sets the bar for all American markets and generates the pulse for the United States economy.

With a population of more than 20 million, the New York metropolitan area is the largest in the United States. Over the last several years, New York has become a magnet for the millennial generation to work, live and play. Today, millennials account for 31.1% of New York City’s population, a far share higher than the 27.5% this age group represents of the national total U.S. population. Businesses, such as information technology and media start-ups, seeking to tap into the millennial generation, are growing in New York, leading to strong, rapid growth in jobs. Overall, New York City added 58,600 jobs in 2016. Over the past year, solid job growth continued to fuel income as the NYC medium income is projected to increase 3.4% throughout 2017.

This job growth is boosting income throughout the region and supporting strong growth in retail sales. According to Moody’s Analytics, New York City retail sales increased an estimated 3.0% om 2016. Tourism remains a major driver of retail activity. In 2016, New York City had 60.3 million visitors, up from 59.7 million tourists in 2015. The combination of more than 20 million local area residents and more than 60 million visitors means retail stores in New York City have a potential audience of more than 80 million people. It is no wonder why retailers want to be here.

Cushman & Wakefield, Inc - New York

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Fifth Avenue: 40.760781, -73.975582
Madison Avenue: 40.769817, -73.966827
Times Square: 40.759011, -73.984472
SOHO: 40.723384, -74.001704
Flatiron District/Union Square: 40.740083, -73.990349
Meatpacking: 40.740987, -74.007611
Lower Manhattan: 40.712525, -74.012361
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Times Square, often referred to as the "Crossroads of the World," is appropriately nicknamed because of the intersection where Broadway and Seventh Avenue intersect at West 45th Street and runs from West 42nd Street to West 47th Street, and is also known as the “BowTie”. This location offers unparalleled retail exposure and signage opportunities as it is the most highly trafficked location in New York City. An astonishing 440,000 people walk through Times Square on a busy day.
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Lower Manhattan, located south of Canal Street, is often referred to as "Downtown" or "The Financial District", and has transformed from a 9-to-5 work locality into a residential neighborhood and tourist destination. The burgeoning hotel and residential population, combined with the continued leasing success of the Westfield/Word Trade Center development and Brookfield Place has created an exciting "buzz" in Lower Manhattan's retail leasing scene.
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Madison Avenue is New York City's luxury submarket, and has long been the home of jewelry and haute couture international fashion retailers. The luxury strip of Madison Avenue runs from East 57th Street north to East 72nd Street. For this reason, as well as the prestige associated with the name "Madison Avenue", this corridor continues to be desired by overseas retailers. Madison Avenue is fueled by brand recognition high-end boutiques searching for the most successful upscale location.
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The Flatiron district, in Midtown South, spans the portion of Fifth Avenue between 14th Street and 23rd Street, Broadway- from East 17th Street to East 23rd Street, and Union Square West from East 14th Street to East 17th Street, and is home to a variety of retailers, including apparel, home-furnishing stores, and restaurants. Flatiron is fueled by affluent area residents, proximity to the New School and Union Square, and by this neighborhood's sky-high desirability within the growing tech and new media industries which seek to secure trendy office space.
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The Fifth Avenue corridor is New York City's premier retail neighborhood and his home to numerous high-end fashion tenants and internationally recognized retailers and global brands. More recently, athletic wear tenants such as Nike and Under Armour have announced plans to expand to Upper Fifth Avenue. This upscale retail submarket, is driven by the dense office market and consistently strong tourism, and continues to outperform quarter over quarter. Fifth Avenue commands the highest asking retail rents in Manhattan, especially in the upper Fifth Avenue stretch between 49th Streets and 60th Streets. This corridor commands the highest asking retail rents both locally and globally.
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The Meatpacking district was historically home to butcher shops and meatpacking plants. Its borders run from Gansevoort Street, north the West 16th Street, Ninth Avenue to West Street. Once considered among the grittiest of Manhattan's neighborhoods, this submarket now welcomes graphic designers, fashion design houses, museums, hotels, luxury boutiques, and many of Manhattan's finest restaurants and trendy night clubs. This Midtown South neighborhood has evolved into a high-end shopping destination driven by the success of the High Line Park, the Chelsea Market, and the recently completed Whitney Museum.
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SoHo, the area south of West Houston Street to Canal Street, Broadway to West Broadway, is another statement retail submarket and continues to be a hot dining and shopping destination for locals and tourists alike. The retail landscape continues to evolve as domestic and international brands establish their presence in this coveted neighborhood with art galleries, restaurants, and a diverse mix of boutiques - making this one of the trendiest submarkets in Midtown South, Manhattan.

Fifth Avenue: 42nd-49th StreetTourists, local business density, local shoppersH&M, Barnes & Noble, Sephora, American Girl, NBA Store, Zara, Guess, & Other Stories, Topshop, Oakley, Tommy Bahama, Karen Millen, Ted Baker, Skechers, Urban Outfitters, Best BuyAdidas, G-Star Raw, Asics, The North Face, Asics, Adidas, Walgreens, COS, Calzedonia$1,000 PSF700-11,000 SF
Fifth Avenue: 49th-60th StreetTourists, local business density, local shoppersSaks Fifth Avenue, Bergdorf Goodman, Salvatore Ferragamo, Apple, Tiffany, Harry Winston, Gucci, Ermenegildo Zegna, Cartier, Prada, Bulgari, Armani, Zara, Coach, Versace, Uniqlo, Gap, Henri Bendel, Furla, Blancpain, MAC, Valentino, Dolce & Gabbana, MicrosoftBreguet, Omega, Swatch, Wempe, Longchamp, Dyson, Victoria’s Secret, Nike, Under Armour, Longchamp,Tag Heuer$2,650-$3,900 PSF720-6,856 SF
Madison AvenueTourists, local shoppersHermes, Tom Ford, Ralph Lauren, Barneys NY, Chanel, Giorgio Armani, Gucci, Cartier, Chopard, Alexander McQueen, Jaeger LeCoultre, Baccarat, Bottega Veneta, Jimmy Choo, Tod’s, Paul & Shark, A Lange & Sohne, Santoni, Philip Plein, Apple Store, Jitrois, Louis Leeham, Madewell, LK Bennett, UGG, Givenchy, Nespresso, Calvin KleinBreitling, Yves Salomon, Elie Saab, Giuseppe Zanotti, Moynat, Moncler, Lanvin, Edie Parker, Paule Ka, Georg Jensen, DeBeers, Tom Ford, Vhernier USA, Mr. & Mrs. Italy$1,000-$1,200 PSF600-7,502 SF
SoHoTourists, local shoppersTopshop, Madewell, Stella McCartney, Alexander Wang, J. Crew, MAC, Patagonia, Coach, Bloomingdale’s, Victoria’s Secret, Prada, Moschino, Aldo, Uniqlo, Under Armour, Armani A/X, Sunglass Hut, True Religion, Hollister, Birchbox, & Other Stories, Maud Frizon, Rebecca Taylor, Proenza Schouler, Dolce & Gabbana, Balenciaga, Tory Burch, The Kooples, Byredo, BalmainMorgane Le Fay, Tomorrowland, Versace, Arc’teryx, Giggle, Athleta, Adidas, Canada Goose, Vera Bradley, Tous, Frame Denim, Free People, Linda Farrow, RM Williams, Dolce Vita, Pinko, Eight Senses, Bio, Monica Vinader, Follain, Luana Italy, Vivienne Hu, Djula, Dr. Marten’s, Amazon, Alo Yoga$150-$1,000 PSF400-11,200 SF
Times SquareTourists, local shoppersSephora, Forever 21, American Eagle, Aeropostale, Swatch, Sunglass Hut, M&M’s World, H&M, Levi’s, US Polo Assoc., Express, Skechers, Old Navy, The Gap, T-Mobile, MACLaline, Va Presto, National Geographic, Arabian Oud, CVS, Swarovski, Line Friends$2,350 PSF1,078-15,995 SF
MeatpackingTourists, local shoppersZadig & Voltaire, Intermix, Diane von Furstenburg, Apple, La Perla, Tory Burch, Vince, Christian Louboutin, Bagatelle, Theory, Kiehls, Bond No. 9, The Kooples, Zimmermann, Niquea.d, Carlo Pazolini, Warby Parker, Restoration Hardware Madewell, Parfums de Marly, Intermix, Tesla, Maiyet$175-$375 PSF578-22,300 SF
FlatironLocal shoppersEataly, Restoration Hardware, H&M, Banana Republic, Anthropologie, Sephora, Victoria’s Secret, Eileen Fisher, Club Monaco, Cole Haan, Aritzia, Eddie Bauer, Sperry Topsider, Tory Burch Sport, lululemon, Bonobos, Sweaty BettyPapersource, Ethan Allen, Footlocker, Paul Smith, NYX Cosmetics, North Sails Apparel, Lou & Grey, Frye Company, Staples, Verizon Wireless, Rent the Runway, Pottery Barn, Alo Yoga, Lush Cosmetics$300-$550 PSF1,1,82-13,000 SF
Lower ManhattanTourists, local business density, local shoppersHermes, Tiffany & Co., Century 21, Canali, TJ Maxx, Thomas Pink, Tumi Luggage, Ann Taylor, The Gap, Cipriani, Abercrombie & Fitch, Superdry, Salvatore Ferragamo, Urban Outfitters, Ermenegildo Zenga, Zara, MAC, Calypso St. Barth, Bonobos, Sunglass Hut, LK Bennett, Tom FordAnthropologie, 18/8 Men’s Salon, City MD, Apple, Whole Foods, Marshall’s, Capital One$300 PSF500-6,417 SF

Data as of June 2017

New York City continues to be the world’s premier dining city with restaurants that space a variety of price points, cultures, and palates at every location.

Due to healthy economic performance, New York City’s fine dining establishments continue to be busy every night of the week, catering to the well-heeled gourmand. Some of these successful restaurants include The Four Seasons, Jean Georges, Eleven Madison Park, and Per Se.

Bolstered by the continued success and expansion of Shake Shack, burger concepts continue to grow. The competition for New York City’s best burger remains a heated one. Steakhouses continue to thrive here also as Wolfgang’s expanded in Midtown Manhattan.

New ethnic cuisines and international food boutiques continue to find homes in New York City whether at the fine dining or casual end. Some of the newest entrants include London’s Duck & Waffle, Asian quick food Momofuko. Sushi-type quick serve restaurants serving Poke are rapidly expanding in New York City as the latest food trend from Hawaii.
Food Halls are now driving the next wave of growth in the New York City eating arena. This hot trend of dining hall choice eating is expanding in an otherwise challenging environment.

Manhattan is saturated with new food establishments catering to the busy office lunch crowd and continues to handle the flow of new concepts. Quick Serve Restaurants (QSR)’s are aggressively expanding in Manhattan and flowing to the outer boroughs. Salad concepts such as Chop’t, Fresh & Co., Dr Smood, and Sweetgreen are flourishing. As of late, some juice chains such as Jamba Juice have fallen off the radar. However,a new player, Joe & The Juice is expanding rapidly.

Midtown, Grand CentralLocal business density, touristsToasties, Pret a Manger, The Palm Too, Cosi, Shake Shack, Schnippers Quality Kitchen, Between the Bread, Sushi Ginza Onodera, Fields Good Chicken, Dr Smood, Joe & The Juice, Sushiro, Pokateria, sweetgreen, Verts Mediterranean Grill$300-$325 PSF
Plaza Local residential population, business densityOcean Prime, Marea, Le Bernardin, Jean Georges, 21 Club, Del Frisco's Grill, Quality Italian, Limani, Valbella, Fogo de Chao, BLT Steak, Little Beet, Dos Toros, Joe & The Juice, Maison Kayser, Fresh & Co., Le Pain Quotidien, Pret a Manger$275-$600 PSF
Midtown West, Clinton Local residential population and secondary retailMeltshop, Ted's Montana, Carmines, Pot Belly Sandwich, Chipotle, Per Se, Chic-fil-A, Pret a Manger, Le Pain Quotidien, Hama NY, Masa, Arby’s, Dig Inn, Wahlburgers, Fresh & Co. Urban Market, Maple, Meatball Shop, The Noodle Shop, Junior’s, Dig Inn, Maple, Bread & Butter, King of Kobe$112-$310 PSF
Flatiron, Meatpacking Local residential population, business densityValbella, Eataly, Shake Shack, Buddakan, Chelsea Market, Dos Caminos, Spice Market,The Standard Grill, Obika Mozzarella Bar, Dig Inn, Sweetgreen, Sugar Factory, Blue Water Grill, Tsurutontan, by Chloe, Shushirrito, Mallie Mustard, Yo! Sushi, Sugarfish, Burger & Lobster, Barn Joo, Lotus Blue Dongitan$220-$300 PSF
Upper East Side Local residential populationDaniel, Crown, JG Melon, Shake Shack, Jersey Mike's, Luke's Lobster, Bareburger, Gregory's Coffee, Cousin's Diner, Helen Food, Mighty Quinn’s, Grain Bowl, Joe & The Juice, sweetgreen$200-$275 PSF
Upper West Side Local residential populationMeatball Shop, Parm, Spiga, Carmine's, Lenny's, sweetgreen, Farinella Bakery, Sugar Factory, Crave Fish Bar, H & H Bagel, Panda Express,Two Bean Coffee, Panda Express$150-$300 PSF
Lower ManhattanLocal residential population, business density, touristsMelt Shop, Mighty Quinn's BBQ, Cipriani, Chop't, Capital Grille, Delmonicos, Bobby Vans, Morton's, Potbelly Sandwich, Eataly, Organic Avenue, Nobu, The Malt House, Oaxaca Taquera, Black Fox Coffee, Jersey Mikes, Smashburger, Hudson Eats, Birch Coffee, Café Grumpy, Verts Mediterranean Grill, Just Salad, Blue Bottle Coffee$220- $336 PSF
SoHo, NoLita Local residential population, touristsThe Dutch, Parm, Burger Fi, Bareburger, David Burke Kitchen, Lure Fishbar, Combina, Mimi Cheng’s Dumplings, Baked by Melissa, Chef’s Club by Food & Wine, Pressed Juicery$185-$685 PSF

Data as of June 2017