Lower East Side Fashion Flight Underway

Posted on: June 20th, 2011 at 6:18 am by

The recent trend seems to be that two-high end boutique shops close for every new one that opens. Indeed, the last six months spelled the end for, among others, Bag, In God We Trust, Tangdance, Annie Havlicek, and Kai D. Adrianne Pasquerelli spilled a ton of ink on the subject of this Lower East Side fashion flight in a Crain’s article published yesterday. Her theory is the double-punch combo of little daytime foot traffic and prevalence of nightlife contributes to the downfall.

This image has been archived or removed.

Herewith, some choice excerpts:

But above all, retailers say the foot traffic, which skyrockets at night, simply does not exist during the day, prime operating time for retail. At the same time, other up-and-coming shopping frontiers, like Williamsburg in Brooklyn, are attracting the same local tenants who are now fleeing downtown’s east side.

…such boutiques have never really thrived in the neighborhood, which is still, first and foremost, nightlife-driven. Though many dive bars still exist, they are now joined by more and more chic nightclubs, each boasting its own distinct appeal.

The influx of nightlife has only driven up rents, making the area even less appealing for emerging boutiques. In the past 18 months, asking prices in the neighborhood have jumped, increasing 20% following recession-related drops. Now, asking rents on prime streets range from $100 to $150 a square foot, while secondary areas are closer to $65 a square foot, according to brokers.

We’ve also heard from a number of shopkeepers that the reputation around here is people look but don’t buy.

Recent Stories

About that Mammoth Matador Mural on Allen Street

Muralist Conor Harrington returned to the Lower East Side two weeks ago to impart one of the larger murals in the neighborhood. The five-story artwork, located on the Allen Street facade of 266 Broome – outside the Emma Peel Room – is striking and hard to miss. What appears to be a matador in stance […]

Justin Theroux Really Wants You to Know his Chrystie Street Bar is the ‘Diviest’ New Dive

Actor Justin Theroux and other nighlife impresarios opened Ray’s on Chrystie Street last week, taking the space previously occupied by Le Turtle. Best part about the arrival was receiving a thousand-word, ipso-facto media advisory explaining how the establishment is the “Lower East Side’s diviest new dive bar.” Here are some choice bytes: Ray’s joins New […]

After a Century on the Bowery, Faerman Cash Registers is Cashing out

brief documentary At one point in the mid-twentieth century, the Bowery boasted several cash register stores; soon, though, the count could be down to one. In operation for over a century, the iconic Faerman Cash Register Company is about to depart. The business recently put its building at 159 Bowery up for sale, and there […]

Taco Mix Opens Lower East Side Restaurant on Delancey Street

Taco Mix just launched its newest city outpost. Headquartered on Delancey Street, the fast casual establishment is a year in the making, and began serving last week. Founded on 116th Street in 1991, Taco Mix is known for its al pastor tacos, and considered by many as one of the city’s best. The Spanish Harlem-based […]

Street Artist Fixes ‘27 Club’ Mural on Rivington Street

Friends don’t let friends have their murals tagged without recourse. For the “27 Club” piece on Rivington Street, it meant Hektad to the rescue. You’ll recall that earlier this month, a group of no-name taggers scrawled over the headshots painted by Eduardo Kobra. This action prompted a response letter from the community about how amateur […]