Meatpacking District adds prestige after landing another luxe brand: ‘More affordable than Soho’

[ad_1]

The once-malodorous Meatpacking District now packs a sweet-smelling punch — particularly at Ninth Avenue and Gansevoort Road, a nook that pulls a few of the world’s most prestigious vogue manufacturers.

The subsequent high-end arrival shall be Italian model MooRER, which can launch its first US retailer in time for the vacations at Romanoff Equities’ 73 Gansevoort St. The three,400 square-foot Washington Road nook, on the foot of the Excessive Line Park and steps from the Whitney Museum, was beforehand restaurant La Pecora Bianca

Colliers’ Thomas Citron, who represented the tenant, wouldn’t say what MooRER is paying. However information from the Actual Property Board of New York present {that a} next-door house at 63 Gansevoort is asking $550 per sq. foot.

The subsequent high-end arrival shall be Italian model MooRER, which can launch its first US retailer in time for the vacations at Romanoff Equities’ 73 Gansevoort St. A retailer in Tokyo, above. Google Maps

The native Enterprise Enchancment District calls the zone “a fusion of grit and glam,” however what little grit stay is quick disappearing. As we reported, the few remaining meatpackers will quickly go away.

The compact space is house to Gucci, Hermes, Loro Piana, Bottega Veneta, Diane von Furstenberg, Hermes — and shortly to Baccarat, which gave up its uptown Madison Avenue digs for 33 Ninth Avenue.

Verona-based model MoorER makes a speciality of luxurious outerwear and different attire made in Italy. It has shops all through Europe and Japan. The New York launch will spearhead enlargement within the US. (The title MooRER was impressed by founder and CEO Moreno Faccincani.)

Citron credited Romanoff, the most important Meatpacking District landlord and developer, for making the deal attainable. As a result of the positioning is inside an historic district, Romanoff wanted, and acquired, the blessing of the Landmarks Preservation Fee to create a storefront on Gansevoort Road, which beforehand had none.

The compact space is house to Gucci, Loro Piana, Bottega Veneta, Diane von Furstenberg and Hermes. Steve Cuozzo/NY Put up

Barton Perreira, a luxurious eyewear bran on Hudson Road. Steve Cuozzo/NY Put up

If not for that, “I don’t assume we'd have landed there,” Citron stated. (Romanoff was repped by Cushman & Wakefield’s Michael O’Neill.)

A number of forces are driving Meatpacking magic. Though a number of offers at prime places commanded extensively reported rents of as much as $500 per sq. foot, rents are on common decrease than in Soho — between $195 and $257 per foot within the first half of 2025, versus $621 per foot in tourist-trampled Soho, in response to REBNY.

A number of forces are driving Meatpacking magic. Though a number of offers at prime places commanded extensively reported rents of as much as $500 per sq. foot, rents are on common decrease than in Soho. Steve Cuozzo/NY Put up

Not like in Soho, Meatpacking has some massive retail vacancies, particularly on Washington and West 14th Streets.

Cushman & Wakefield retail division vice-president Steven Soutendijk famous, “Rents are barely extra inexpensive than Soho. I additionally assume it’s a barely totally different aesthetic really feel — a bit extra genuine due to the historical past as an industrial space being more moderen.” He cited the Whitney and the Excessive Line as “nice vacationer anchors” and famous “There’s extra meals and beverage and nightlife than in Soho.”

Baccarat gave up its uptown Madison Avenue digs and can quickly open at 33 Ninth Avenue. Steve Cuozzo/NY Put up

One other issue, Citron stated, was proximity to the West Village and West Chelsea, “high-demographic, high-income neighborhoods. These folks don’t journey uptown a lot.”

Citron added that Meatpacking areas in former industrial buildings on cobblestone streets are “extra distinctive with industrial edges, good ceiling heights and many columns.”

Meridien retail leasing president James Famularo stated the district’s “flagship retail areas are as a lot about storytelling as about gross sales.”

Italian menswear retailer Zegna on Gansevoort Road. Steve Cuozzo/NY Put up

Even so, he cautioned, “Asking rents at over $500 per sq. foot go away little room for error on high of build-out prices, insurance coverage, and taxes.”