4 ms·
> There's a reason the big NYC area malls are in Paramus and Elizabeth. I think the reason is that malls are just out-of-fashion. If we consider the SoHo area
by lowkey_ 3y ago
> There's a reason the big NYC area malls are in Paramus and Elizabeth.
I think the reason is that malls are just out-of-fashion.
If we consider the SoHo area to be the equivalent of a mall, or the North Williamsburg/Greenpoint area to be a mall, I'd bet they dwarf the Paramus & Elizabeth malls in GMV sold and foot traffic.
- busterarm 3y agoSoHo retail has been collapsing for more than a decade. Storefront availability was nearly 25% in 2017.
- lowkey_ 3y agoAt least according to this article in 2017 [1], it looks like that was because of SoHo's soaring rents (because there's tons of great shopping which brings a lot of people there). It was also common across the country at the time. It's apparently back and better than ever though [2]. And anecdotally, everyone I know shops much more in SoHo than they did a decade ago, even if the center has shifted to Williamsburg/Greenpoint and more thrifting / vintage stores. [1] https://www.nytimes.com/2017/08/23/nyregion/soho-empty-storefronts.html https://www.nytimes.com/2017/08/23/nyregion/soho-empty-store... [2] https://equicapmag.com/real-estate/soho-retail-rebounds/#:~:text=By%20the%20end%20of%202020,at%20JLL%20in%20New%20York https://equicapmag.com/real-estate/soho-retail-rebounds/#:~:....