LOWER MANHATTAN RETAIL - downtownny...Diverse. Dynamic. Thriving. Lower Manhattan is a globally...
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1 LOWER MANHATTAN RETAIL 2011
Transcript of LOWER MANHATTAN RETAIL - downtownny...Diverse. Dynamic. Thriving. Lower Manhattan is a globally...
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LOWER MANHATTAN RETAIL
2011
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LOWER MANHATTAN: A WORLD OF POSSIBILITIES.
Diverse. Dynamic. Thriving. Lower Manhattan is a globally competitive business district, one of New York City’s most affluent, highest-educated and fastest growing residential communities, and an international tourist destination – all wrapped up in one square mile. Over the last 10 years the area south of Chambers Street has been dramatically transformed, with twenty billion dollars of investment in public transit improvements, as well as new office and residential towers, retail space, hotels, parks, and cultural institutions.
It’s no longer business as usual in New York’s Financial District. Today, Wall Street is also Main Street. Fabulous shops and hot new restaurants play host to a savvy tech and media crowd alongside well-heeled financiers and power brokers. And forget about 9 to 5 – with a flourishing residential population, Lower Manhattan is hopping 24/7.
With $4.6 billion in annual buying power, the Lower Manhattan market is fast becoming New York City’s premier retail destination. Come and see what all the buzz is about.
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ANNUAL SPENDING POWER OF THE LOWER MANHATTAN MARKET: $4.6 BILLION
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LOCATION•Southernmost tip of Manhattan, south of Chambers Street•1 square mile•The nation’s 4th largest central business district•Includes the Financial District, South Street Seaport, Tribeca South, World Financial Center, World Trade Center, and Battery Park City
PRIMARYMARKETAREA•Population: 56,000•Total households: 28,250•Median household income: $143,000
GREATERMARKETAREA (3-MILERADIUS)•Total households: 370,050•Average household income: $96,600
EMPLOYMENT•Total employment: 305,800•Average employee annual wage: $145,000•Major industries: media, financial services, insurance, real estate, government, professional services, creative services, technology, nonprofit
VISITORSANDTOURISM•Annual visitors: 9 million •Hotel Rooms: 4,100•Major Attractions: Statue of Liberty, South Street Seaport, New York Stock Exchange, National 9/11 Memorial (coming 9/11/11)MASSTRANSIT•Total annual transit ridership: 1.65 million•12 NYC subway lines•30 bus routes•6 ferry terminals & 12 routes•PATH Train to New Jersey•Free circulator bus (intra-district)
KEY FACTS
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1. COUPLES WITHOUT CHILDREN (33% OF LOWER MANHATTAN HOUSEHOLDS)The typical childless couple in Lower Manhattan is 43 years old, works in financial services and earns $228,000 a year. With their lofty disposable income, they may own an additional home outside Lower Manhattan. Almost half of these households own at least one car. Couples in this group dine out more than once a week and take several vacations a year (one or two may be abroad). They frequent small music performances, as well as bars, lounges and clubs. They belong to a gym and are likely to own a pet, probably a dog.
2. FAMILIES OF LOWER MANHATTAN (27% OF HOUSEHOLDS)The adults in this segment are about 44 years old. They’re in a very high income bracket — earning $252,000 a year in financial services or business services. One of the adults might be a stay-at-home parent. Families are more likely to own their home than rent and may own several other homes. They have at least one car.
3. MATURE AND SINGLE (26% OF LOWER MANHATTAN HOUSEHOLDS)The typical resident in this segment is a 40-year-old woman who works in finance. She earns $130,000 a year and dines out several times a week — especially for brunch or dinner. She goes to bars, lounges and clubs and sees a Broadway or Off-Broadway show at least once a year. She vacations more than once a year, and one of those trips is likely to be abroad.
4. MATURE RESIDENTS OF LOWER MANHATTAN (14% OF HOUSEHOLDS)The typical older retired resident is 68 years old and has an annual income of $72,000. Most are married, widowed, or divorced. They remain active for their age, going out for lunch or dinner once or twice a month and to movies, art galleries and museums a few times a year. They vacation domestically once a year.
WHO LIVES IN LOWER MANHATTAN?Here’s a hint: Not only is Lower Manhattan one of New York’s fastest-growing residential neighborhoods, it is also one of the most affluent.
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Lower Manhattan is home to 447 restaurants and 626 stores and storefront services, and more shops are opening every day. From internationally famous clothiers to family-owned florists, these businesses cater to Lower Manhattan’s diverse market of workers, residents and visitors in a neighborhood like no other in the world — where historic cobblestone lanes and modern skyscrapers bring past and future together.
The roster of shops and eateries span the price spectrum. Stores include discount clothier CENTURY 21, trendy children’s furnisher BABESTA CRIBZ, and the luxury watch boutique TOURBILLON. Dining options range from casual joints GOODBURGER, CHICKPEA and LEO’S BAGELS, to fine dining at THE CAPITAL GRILLE, SHO SHAUN HERGATT. And did we mention three new Danny Meyer restaurants including SHAKE SHACK?
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SUBDISTRICT: FINANCIAL DISTRICT
RETAILERSINCLUDE: Equinox The Capital Grille Hermès Tiffany & Co. Tourbillon Harry Cipriani Thomas Pink La Maison du Chocolat Tumi BMW Crumbs Bakery Hyatt Wall Street SHO Shaun Hergatt Bobby Van’s Canali Haru True Religion
PEDESTRIANCOUNTS(WEEKDAY) Wall Street between Broad and William Streets: 39,400 William Street north of Stone Street: 15,100
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RETAILERSINCLUDE: Sephora Century 21 Easy Spirit JoS. A. Bank Starbucks Pret A Manger Daffy’s Pret A Manger Hallmark Staples Men’s Warehouse Vitamin Shoppe Modell’s
PEDESTRIANCOUNTS(WEEKDAY)Church Street south of Fulton Street: 55,570 Broadway south of Fulton Street: 37,160 Broadway south of Morris Street: 26,140
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RETAILERSINCLUDE: Au Bon Pain J&R Music and Computer World Bolton’s GNC Starbucks Godiva Aerosoles New York & Company CVS Chipotle Bread Factory Cafe Subway Energy Kitchen PEDESTRIANCOUNTS(WEEKDAY)Fulton Street between Nassau and Dutch Streets (north side- walk): 14,220 Maiden Lane between Pearl and Gold Streets (north sidewalk): 9,850
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F R A N K F O R T S T R E E T
M A D I SO N S
T R E E T
PE
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W O R L D F I N A N -C I A L C E N T E R
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4, 5
1
1
2, 3
N, R
1
2, 3
2, 3
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42
1
53 6
78
SUBDISTRICT: SOUTH STREET SEAPORT
M O R R I SM O R R I S
E X C H A N G E FR
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P A R K P L A C E
W A R R E N
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RR
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C E D A R
F I R S T P L A C E
T H I R D
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P I N E S T R E E T
M A I D E N L A N E
JOHN STREET
P L A T T
F L E T C H E R S T R E E T
P I N E
G O U V E R N E U R
O L D S L I PO L D S L I P
CO
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W E S T T H A M E S S T R E E T
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LIB
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BR
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M U R R A Y S T R E E T
WA
SH
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TO
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BATTERYPARK
CITYHALLPARK
WASHINGTONMARKET
PARK
VIETNAM VETERANSMEMORIAL
PLAZA
ROCKEFELLERPARK
ROBERT F.WAGNER, JR.
PARK
PedestrianBridge
PedestrianBridge
F U L T O N S T R E E T
A N N S T R E E T
PA
RK
R
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PA
RK
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F R A N K F O R T S T R E E T
M A D I SO N S
T R E E T
PE
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S O U T H S T R E E T
S E A P O R T
P I E R 1 7
W O R L D T R A D E C E N T E R S I T E
WO
RL
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1
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4
5
6
2
1
3
7
89
10
11
SUBDISTRICT: WORLD TRADE CENTERTRIBECA SOUTH
RETAILERSINCLUDE: J. Crew Guess Abercrombie & Fitch Coach Brookstone Ann Taylor Victoria’s Secret The shops at Pier 17: Sunglass Hut Gap Gap Kids Ann Taylor Express And more!
1
2
3
4
5
6
7
8
RETAILERSINCLUDE: Millennium Hotel Century 21 Brooks Brothers Whole Foods Bed Bath & Beyond Le Pain Quotidien The Palm Tribeca Shake Shack Blue Smoke North End Grille Harry’s Italian Babesta Babesta Cribz PJ Clarke’s Winter Garden Café 9/11 Memorial Preview Center
PEDESTRIANCOUNTS(WEEKDAY) Park Place between Church Street and W. Broadway: 19,230
Church Street south of Fulton Street: 55,580
1
2
3
4
5
6
7
1
2
8
9
10
11
1011
12
13
14
15
M O R R I SM O R R I S
E XC H A N G E FR
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T
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P L A T T S T R E E T
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W O R L D F I N A N -C I A L C E N T E R
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6
7
8
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16
M O R R I SM O R R I S
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P A R K P L A C E
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P I N E S T R E E T
M A I D E N L A N E
JOHN STREET
P L A T T S T R E E T
F L E T C H E R S T R E E T
P I N E
G O U V E R N E U R
O L D S L I PO L D S L I P
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CITYHALLPARK
WASHINGTONMARKET
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VIETNAM VETERANSMEMORIAL
PLAZA
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ROBERT F.WAGNER, JR.
PARK
PedestrianBridge
PedestrianBridge
F U L T O N S T R E E T
A N N S T R E E T
PA
RK
R
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PA
RK
R
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F R A N K F O R T S T R E E T
M A D I SO N S
T R E E T
PE
AR
L
ST
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WI L
LI A
M
P I E R 1 7
W O R L D F I N A N -C I A L C E N T E R
WO
RL
D T
RA
DE
CE
NT
ER
SI T
E
B AT T E RY PA R K C I T Y
N, R
4, 5
A, C
J, M, Z
J, M, Z
4, 5, 6
J, M, Z
4, 5
N, R
4, 5
1
1
2, 3
N, R
1
2, 3
2, 3
1, 2, 3
A, C, E
N, R
4
2
1
5
3
6
7
8
9
10
1
2
SUBDISTRICT: GREENWICH SOUTH
RETAILERSINCLUDE: Tajin Mexican Restaurant Greenwich Jewelers Moran’s Restaurant & Bar Petropolis SYMS T.G.I. Friday’s 9/11 Memorial Entrance Point Koko Asian Fusion Salon Greenwich Dunkin Donuts Manon Café
1
2
3
4
5
6
SUBDISTRICT: WATER STREET
RETAILERSINCLUDE: Fresco on the Go by Scotto Flavors Cafe Wall and Water Restaurant Haru Sushi Stone Street Restaurant Row The Pump Chop’t Flowers of the World Duane Reade Fika Espresso Bar Laila Rowe Jewelry & Accessories Wall St. Burger Shoppe Fraunces Tavern Duane Reade New York Sports Club Starbucks NY Health & Racquet Club Hale & Hearty Soup Starbucks Au Bon Pain
1
2
3
4
5
7
8
9
10
6
7
8
9
10
11
12
13
14
15
16
THE WORLD TRADE CENTER redevelopment plan calls for four major office towers, almost 500,000 square feet of retail space, a transportation hub designed by Santiago Calatrava, and a Performing Arts Center. The site is bustling with construction activity. Major openings beginning in 2011 include the National September 11th Memorial and Museum, which is expected to draw 5 million visitors annually.
THE FULTON STREET TRANSIT CENTER will have new retail space and feature a metal-and-glass main building that rises four stories, topped with an iconic oculus that funnels light into the station’s lowest levels. Scheduled to open in 2014, it will link 11 subway lines and the PATH train and serve more than 300,000 riders a day.
THE EAST RIVER WATERFRONT ESPLANADE will transform two miles of underused waterfront on the east side of Lower Manhattan into publicly accessible open space for pedestrians and cyclists. It will feature gorgeous plantings, seating, lighting, a dedicated bikeway, and pavilions with retail and cultural uses. The $150 million project is scheduled for completion in 2012.
BATTERY PARK, the largest public open space in Lower Manhattan, is undergoing significant improvements that include landscaping and a new plaza, a bikeway, a whimsical carousel and an energetic playground. Redevelopment at Pier A will bring a casual restaurant, oyster bar, fine dining, and an event space to Battery Park City.
NEW YORK BY GEHRY, the 903-unit tower, is New York City’s tallest residential building. Designed by Pritzker Prize winning architect Frank Gehry, the building features a dazzling facade, luxury amenities, and a ground floor public school.
WHAT’S AHEAD FORLOWER MANHATTANLower Manhattan is experiencing an extraordinary period of public and private construction that will make the neighborhood an even more exciting place to live, work and visit.
EVENTS AND ATTRACTIONS
Arts, entertainment, museums, and historic sites spice up Lower Manhattan’s cultural life creating a lively, rich environment that attracts almost 9 million tourists per year.
Lower Manhattan is home to the RIVER TO RIVER FESTIVAL. New York City’s largest free summer arts festival, it produces and promotes hundreds of music, dance and cultural events each summer.
15 16
Alliance for Downtown New York120 Broadway Suite 3340New York, NY 10271212.566.6700DowntownNY.com
FOR ADDITIONAL INFORMATION CONTACT:Telephone: 212-835-2787 Email: [email protected] our website at DowntownNY.com.
It is time to make your move to Lower Manhattan. Come see all that Manhattan’s vibrant center of retail, tourism, and commerce has to offer.
LOWER MANHATTAN: A WORLD OF POSSIBILITIES.
