The Taking of Bleecker: 1, 2, 3
The western end of Bleecker Street has gone through three major upheavals since the 2000s began. 1. Skyrocketing rents and non-renewal of leases on mom-and-pop shops created the luxury chain takeover, starting in 2001 with Marc Jacobs. Those blocks went from quaint and local to high-end suburban mall in just five years. 2. It took another five to die, as those big chains departed, emptying the storefronts and leaving the street in a state of high-rent blight. 3. Recently we heard that mega-developer Brookfield Properties would take over , spending approximately $31.5 million for several retail condos to convert them into a concept, a curated consumer experience, “with Brookfield orchestrating…rather than allowing each individual shop to pursue its own agenda,” reported New York magazine. “Let’s look at this as if it’s a mall,” said Brookfield’s head of retail leasing, “even though it’s not.” Now we know what that looks like. WWD reports on the program to curate the street...