Q: The City's Next Hot Neighborhood? A: Take Your Pick
December 7, 2011
By: Daniel Edward Rosen

To seasoned retail brokers, the very concept of the next big neighborhood in a city that has been developed several times over is, well, naïve. Still, as The Commercial Observer recently learned, most are still looking for a reason to believe. ...

... From the far West Side in Manhattan, to the spillover crowds of Williamsburg that have helped revive Bushwick in Brooklyn, retailers and their brokers are breathing new life into existing neighborhoods, many of them long discovered.  Brokers interviewed for this article, in fact, pointed to the Flatiron district and the Upper East Side as “hot” areas.

“It’s sad to say or scary to say, but if you go up and stand outside the Shake Shack on the Upper East Side on a Saturday or Sunday around noon, the line is astronomical,” said Patrick Breslin, an executive vice president of retail at Studley, who also noted an array of new retail leases from H&M and the French perfume company La Fontaine. “It’s unbelievable.” ...

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