""It was interesting for us to see people coming from Long Island to Williamsburg as opposed to going all the way into Soho," RTL broker Michael Shkreli told the outlet, citing his firm's data that tracks shoppers along North 6th Street (a strip that now includes an Hermès pop-up and incoming permanent location, a Chanel fragrance outpost, Cos, Glossier, Patagonia, Madewell, Reformation, and Farm Rio, to name just a few)."
"Williamsburg's transformation into a retail heavyweight drawing both wealthy locals and Roosevelt Field regulars is, per the Real Deal, also being reflected in asking rents and the kinds of brands moving in. Compared to 15 years ago, when landlords were signing deals for $45 per square foot, retail rents along North 6th Street are now rivaling Soho, with leases reaching $500 a square foot for some storefronts."
North 6th Street in Williamsburg has shifted from an industrial area to a concentrated high-end retail corridor housing brands like Herm s, Chanel fragrance, Cos, Glossier, Patagonia, Madewell, Reformation, and Farm Rio. Foot traffic now includes hedge-fund analysts, affluent waterfront condo buyers, and significant numbers of suburban shoppers driving in from Long Island. Factors such as easier parking and the absence of congestion pricing off the BQE help draw drivers. Retail asking rents have risen dramatically from about $45 per square foot fifteen years ago to leases reaching roughly $500 per square foot for some storefronts, influencing brand leasing decisions.
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