News
UPPER WEST SWING
December 3, 2009
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| From Columbus Circle to Columbia University, the Upper West Side is experiencing an upswing in retail leasing, especially as tenants jump at the opportunity of a 20-40% decline in asking rents, says Newmark Knight Frank retail guru Stu Morden. He’s currently marketing spaces at 2395 Broadway (1.5k SF, above), 2519 Broadway (2.3k SF), 2600 Broadway (1.4k SF), 200 West End Ave. (3.1k SF) and 341-345 Amsterdam Ave. (1.2 to 3k SF) with colleague Ross Kaplan, and 380 Columbus Ave. (1.8k SF with 80 feet of wraparound footage) with colleague Jay Gilbert. He already has a few deals in the works, he says, so keep your eyes peeled. |
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| Stu’s no stranger to this niche market—he’s lived and worked in the neighborhood most of his adult life. (Fun fact: he owned a chess and backgammon parlor for 12 years following the Bobby Fischer-Boris Spassky craze). He tells us the submarket has remained fairly stable, thanks to the UWS’s residential strength. It’s especially noteworthy seeing the restaurant sector reemerge, including Accademia di Vino, Five Napkin Burger, and Big Daddy’s. You can catch Stu and his colleagues at ICSC, Rhinelander Booth 183, next week. |
