The colorful district we called “42 Below” has seen retail occupancy grow 65% faster than Manhattan overall, according to New York Real Estate Journal.
The website reported new findings by Live XYZ, a mapping and analytics firm which tracks more than 160,000 storefronts across the city. Its survey found that storefront vacancy in the district roughly bounded by Sixth and Eighth avenues and by West 30th and West 42nd streets fell by 19% over the past two years.
Among imminent new food arrivals: Sora, a complex of eight Japanese and Chinese concepts in 20,000 square feet on West 37th Street, and Kaza, a Japanese place on West 39th.
“The strongest momentum in 42BELOW is in restaurants,” NYREJ noted.
Meanwhile, fitness and personal care accounted for the second-largest growth category in the area, which grew from 22 to 33 storefronts.
We’re pleased that our “42 Below” coinage had legs. We first used it in a story last December about growing energy in the area below Times Square, a “more people-friendly environment” than in the past “with myriad shopping, lodging, dining and entertainment options.”
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
