The Next Hot Retail Market
It’s all about the West Side, says Douglas Elliman retail chair Faith Hope Consolo, whom we snapped last night at the CREW convention in Miami. She’s been busy with smaller-store demand in Hudson Yards and tells us the upper Upper West Side (Columbus and Broadway) is catching the eye of both luxury and aspirational retailers. Fitness is hot, too (especially if it's hot Bikram yoga). Faith has leases out with Pure Barre (apparel and classes) and Lole (a Lululemon competitor from the same place in Canada).
Back on Madison, menswear is booming. Faith signed Caruso (above) for 11k SF at 58th (it'll open this month as the Milan company’s first US location), and Peter Millar will open its US flagship at 54th. Don’t feel left out, though, women: Faith tells us an undisclosed “megabrand store” will take down an entire building on Broadway and sell its five brands under one roof. While the West Coast was the next logical step for such luxury brands, now they're asking for Miami, she tells us, attracted to its tourist base, high-end single-family housing stock, and booming office sector. She’s working now on bringing Perrin Paris (a luxury handbag/accessory retailer) down from New York into Miami, and tells us she’s got leases working across the metro, including Bal Harbour, the Design District, and Aventura.
