Cuozzo: Will Printemps – Fashion, Restaurant Hybrid Store – Lift Fidi’s Fortunes?

The new Printemps fashion store, which opened at the One Wall Street of Harry Macklowe on Friday, “can be the most beautiful store in New York,” said downtown Jessica Lappin alliance president.

“Macklowe couldn’t have done it better,” retained retail cuse & wakefield retail Joanne Podell, which repped the Chinese miniso lifestyle in 150 nearby broadway.

“It will attract proper foot traffic and other [retailers] I’ll want to be next to them, ”she said.

But will they remove 55,000 square -foot emporium with five more vessel restaurants in the retail of the area?

RIPCO real estate director Andrew Mandell, who is marketing a 7,000-square-foot shop former bank on the street in 71 Broadway, said, “I think it’s too early to determine, but our rental efforts have already been helped. We are in active negotiations.”

While the World Trade Center and the Brookfield Place purchasing complexes are almost rented, it is a different story elsewhere. Broadway south of Chambers road has many vacancies. So Fulton, Nassau, Pine and other roads that mainly have small buildings suitable mainly for fast food and descendants.

Even Wall Street has many “rental” signs despite the prestigious presence of Tiffany.

CBre vice president Jordan Kaplan said Broadway “was negatively affected by the impact of major retail projects on Brookfield Place, Oculus and The Seaport”, which attracted the most desirable stores.

But he said prinamps and brooks Brothers, the latter to come soon in 195 Broadway, “have already brought focus and attention back to Broadway.

Retail brokers were optimistic about an effect of spreading the prinamps. Most of the optimism was JLL Managing Director for New York Retail, Corey Zolcinski, who said, “We do not think it will pass long before bigger names and developing concepts follow prinamps in the neighborhood.”

He said that although “retail sellers were post-Covid hexitant to engage in space in confidence, it is changing quickly. The road landscape is returning to life with Sevenhora, which Foods, Minis and soon Brothers Brothers.”

Cbre said the search for rentals in the Broadway south of the Chambers road in the fourth quarter of 2024 recorded $ 2.4 in $ 236 with square foot for the same period in 2023.

Steve Soutenijk of Cumenan & Wakefield did not blame the owners of the owners for the vacancies. “I don’t think they have unreasonable lease expectations,” he said. “They are fully ready to meet the market where it is.”

He said that the return of the retail of Fidi since the Pandemia “has remained the rest of the city mainly because its office population has been slower to return.”

Jeffrey Roseman of Newmark, who helped the 28th owner of Liberty Street Fosun Hive Holdings for rent all his retail space, including Alamo Drafthouse Kinema, said the prinamps could be “a little an anchor” for other high -level vendors if it would come out in a strong.

“It is a city downtown fashion anchor compared to another grocery or the so -called experimental use,” Roseman added.