Despite potential slowdowns in consumer spending and limited space, major luxury retailers remain drawn to the allure of New York City's vibrant market.
A report from Cushman & Wakefield finds that these brands are attracted to three Manhattan areas in particular — Madison Avenue, SoHo, and Fifth Avenue.
Particularly, SoHo is the largest urban district in the country, which lures in a "diverse mix of domestic and international shoppers," according to Cushman. The CRE firm noted that Jacquemus has become a favorite for shoppers since opening in October 2024. Also, the submarket is expected to see Calvin Klein reopen a collection store in a new location this year.
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