http://www.crainsnewyork.com/article/20100204/SMALLBIZ/100209931 Fairway negotiating for third Manhattan location Upper East Siders would get an alternative to Food Emporium and D'Agostinos. Upper East Side residents may soon have a better selection of produce and dairy products to choose from. Fairway Market is in negotiation for a lease at 240 E. 86th St., between Second and Third avenues,... [more]
http://www.crainsnewyork.com/article/20100204/SMALLBIZ/100209931
Fairway negotiating for third Manhattan location
Upper East Siders would get an alternative to Food Emporium and D'Agostinos.
Upper East Side residents may soon have a better selection of produce and dairy products to choose from. Fairway Market is in negotiation for a lease at 240 E. 86th St., between Second and Third avenues, according to two real estate sources.
The retail space, owned by Lend Lease Real Estate Investments, boasts nearly 60,000 square feet and formerly housed a now-bankrupt Circuit City and a Barnes & Noble, the latter of which moved to a different location in the neighborhood. Sources say competition for the space was hot, as potential retailers including Whole Foods and Nordstrom Rack vied for a deal. The lease is expected to be completed within the next 40 days, but a deal could fall apart if both parties do not agree on terms, sources note.
Retail rents have dropped on the East 86th Street corridor, between Lexington and Second Avenues, by as much as 24% since 2008, according to a Retail Board of New York fall 2009 report, the most recent available. Prices on the strip are currently near $360 a square foot, compared with $475 a square foot in the fall of 2008.
Fairway, which currently has 15 stores and more than $1 billion in revenue, is growing at a rapid pace. Along with its five existing New York area outposts, the chain is developing locations in Douglaston, Queens, Pelham, N.Y., and Stamford, Conn. After some delay, the Pelham location is scheduled to open for business on April 14.
The Upper East Side spot would be the supermarket's third Manhattan spot and would give neighborhood residents access to a popular supermarket alternative that often hands out free samples. Other than Gristedes, D'Agostino and the Food Emporium, the area also has gourmet options such as Citerella and Agata & Valentina. Whole Foods is planning to open in two years at the corner of East 57th Street and Second Avenue, but will be too far south to impact the neighborhood.
Neither Aaron Fleishaker, the vice president of real estate for Fairway, nor Ariel Schuster, the Robert K. Futterman & Associates broker representing the landlord, would comment for this story.
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Response by somewhereelse
almost 16 years ago
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alan, you trying to take away my Crain's from me?
;-)
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Response by alanhart
almost 16 years ago
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Will quality and concept continue to erode as more locations open?
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Response by alanhart
almost 16 years ago
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If it's not tied down, it's no longer yours.
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Response by aboutready
almost 16 years ago
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will gristedes be forced out of business? associated?
i don't think it's true that the new whole foods at 57th and 2nd is too far. for daily shopping yes, for weekly delivered shopping no. this grocery shopping revolution has been a long time coming. kind of ironic that much of it has been enabled by the recession.
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Response by somewhereelse
almost 16 years ago
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> will gristedes be forced out of business? associated?
Pretty please.
Also, correct, 86 vs. 57? If I lived on 86th, I'd probably be more likely to cross the park than head to 57. UES is also much bigger width-wise, I see no problem with overlap.
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Response by somewhereelse
almost 16 years ago
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> for weekly delivered shopping no.
For delivered, does location matter a whole lot anyway? If its freshdirect-types, thats once thing.
But if I live on 90th, I 'aint going to 57th for my Cocoa Pebbles.
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Response by aboutready
almost 16 years ago
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maybe not if you live on 90th, but many UWSers reported rather frequent trips to the whole foods at columbus circle prior to their new one opening up further north. and many of us don't like freshdirect. i'll take trader joe's and whole foods over FD any day.
for your daily shopping i agree, that's what i said.
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Response by somewhereelse
almost 16 years ago
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Well, to run with the example, was there any problem when the Whole Foods opened up North on the UWS, too?
I'm not saying noone is running up and down, but the UES is a MIGHT big place of rich folk to have 2 good supermarkets at either end.
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Response by somewhereelse
almost 16 years ago
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and, in the uES examples, its two different ones... where UWS has two of the same one (whole foods) in addition to the fairway.
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Response by aboutready
almost 16 years ago
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swe, maybe you should read more carefully. i wrote BEFORE the second whole foods opened.
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Response by NYCMatt
almost 16 years ago
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"will gristedes be forced out of business?"
Hope springs eternal.
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Response by somewhereelse
almost 16 years ago
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yes, after I had already responded to your post and made my point.
then the conversation moved on.
Maybe *you* should be reading a little more carefully.
;-)
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Response by somewhereelse
almost 16 years ago
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So, the count... gonna look awful similar... the big difference is two brothers...
UES
Citarella
Fairway
Whole Foods
Eli's
Fresh Direct
UWS
Citarella
Fairway
Whole Foods (2)
Zabar's
Fresh Direct
and a shake shack for both!
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Response by aboutready
almost 16 years ago
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UWS, trader joe's.
details, details.
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Response by somewhereelse
almost 16 years ago
Posts: 7435
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damn...
UES
Gourmet Garage
does UWS have one of those, too?
and I forgot Trader Joe's, shouldn't somebody be getting one soon?
I'm not fond of those as supermarkets, more a bulk goods spot.
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Response by aboutready
almost 16 years ago
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UES,
agata & valentina, vinegar factory.
and for you swe, costco. bulk indeed.
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Response by somewhereelse
almost 16 years ago
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jeez, i totally confused vinegar and eli's. Damn zabar family. I got thrown when Autobahn moved.
Wow, the balance of cooks is shifting.
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Response by somewhereelse
almost 16 years ago
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BTW, Trader Joe's doesn't seem to think it has an UWS location coming. Not on their site, and they deny in several articles in Nov.
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Response by bjw2103
almost 16 years ago
Posts: 6236
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UWS - Westside Market. Sorry, is this a UWS-UES war? The UES stinks for grocery shopping, so if these all come to be (and sounds like neither of these is a done deal by any stretch), it would be a long time coming. I'm not sure how a yet-to-be-built Whole Foods at 57th and 2nd counts as UES. If I still lived at my old place on the UES, the Fairway on West 74th would still be closer, which is kind of amazing.
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Response by somewhereelse
almost 16 years ago
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I forgot Grace's Marketplace
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Response by bjw2103
almost 16 years ago
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Re: UWS Trader Joe's - a friend of mine actually works for them. The Chelsea location is definitely first, but they're pretty confident the UWS location will be a go afterwards. That said, neither of these 3 stores (UWS TJ, UES Fway, midtown WF) should really be "counted" yet.
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Response by somewhereelse
almost 16 years ago
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and I hate Food Emporium as much as anyone, but that one under the bridge was pretty cool. I used to pass by other locations to get to that one.
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Response by alanhart
almost 16 years ago
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Yes, UWS has a Gourmet Garage.
Is this Yorkville Fairway locale the old Grand Union space?
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Response by aboutready
almost 16 years ago
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i count them when the lease is signed and the build-out begins. under that criteria the uws TJs should count, no?
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Response by somewhereelse
almost 16 years ago
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I don't remember Grand Union so well.... but I don't think so. I thought the Barnes & Noble / Circuit was a newer building. It at least got some major reno.
"i count them when the lease is signed and the build-out begins. under that criteria the uws TJs should count, no? "
Yes, I think thats fair... but did they actually start building it?
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Response by aboutready
almost 16 years ago
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i thought so. it's new construction, and thus an empty blank space, so the work should move along.
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Response by Gopher_1
almost 16 years ago
Posts: 87
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No love for Agatha and Valentina on the UES? I'm a big fan of their produce (tend not to bother with the fish there)
alan, you trying to take away my Crain's from me?
;-)
Will quality and concept continue to erode as more locations open?
If it's not tied down, it's no longer yours.
will gristedes be forced out of business? associated?
i don't think it's true that the new whole foods at 57th and 2nd is too far. for daily shopping yes, for weekly delivered shopping no. this grocery shopping revolution has been a long time coming. kind of ironic that much of it has been enabled by the recession.
> will gristedes be forced out of business? associated?
Pretty please.
Also, correct, 86 vs. 57? If I lived on 86th, I'd probably be more likely to cross the park than head to 57. UES is also much bigger width-wise, I see no problem with overlap.
> for weekly delivered shopping no.
For delivered, does location matter a whole lot anyway? If its freshdirect-types, thats once thing.
But if I live on 90th, I 'aint going to 57th for my Cocoa Pebbles.
maybe not if you live on 90th, but many UWSers reported rather frequent trips to the whole foods at columbus circle prior to their new one opening up further north. and many of us don't like freshdirect. i'll take trader joe's and whole foods over FD any day.
for your daily shopping i agree, that's what i said.
Well, to run with the example, was there any problem when the Whole Foods opened up North on the UWS, too?
I'm not saying noone is running up and down, but the UES is a MIGHT big place of rich folk to have 2 good supermarkets at either end.
and, in the uES examples, its two different ones... where UWS has two of the same one (whole foods) in addition to the fairway.
swe, maybe you should read more carefully. i wrote BEFORE the second whole foods opened.
"will gristedes be forced out of business?"
Hope springs eternal.
yes, after I had already responded to your post and made my point.
then the conversation moved on.
Maybe *you* should be reading a little more carefully.
;-)
So, the count... gonna look awful similar... the big difference is two brothers...
UES
Citarella
Fairway
Whole Foods
Eli's
Fresh Direct
UWS
Citarella
Fairway
Whole Foods (2)
Zabar's
Fresh Direct
and a shake shack for both!
UWS, trader joe's.
details, details.
damn...
UES
Gourmet Garage
does UWS have one of those, too?
and I forgot Trader Joe's, shouldn't somebody be getting one soon?
I'm not fond of those as supermarkets, more a bulk goods spot.
UES,
agata & valentina, vinegar factory.
and for you swe, costco. bulk indeed.
jeez, i totally confused vinegar and eli's. Damn zabar family. I got thrown when Autobahn moved.
Wow, the balance of cooks is shifting.
BTW, Trader Joe's doesn't seem to think it has an UWS location coming. Not on their site, and they deny in several articles in Nov.
UWS - Westside Market. Sorry, is this a UWS-UES war? The UES stinks for grocery shopping, so if these all come to be (and sounds like neither of these is a done deal by any stretch), it would be a long time coming. I'm not sure how a yet-to-be-built Whole Foods at 57th and 2nd counts as UES. If I still lived at my old place on the UES, the Fairway on West 74th would still be closer, which is kind of amazing.
I forgot Grace's Marketplace
Re: UWS Trader Joe's - a friend of mine actually works for them. The Chelsea location is definitely first, but they're pretty confident the UWS location will be a go afterwards. That said, neither of these 3 stores (UWS TJ, UES Fway, midtown WF) should really be "counted" yet.
and I hate Food Emporium as much as anyone, but that one under the bridge was pretty cool. I used to pass by other locations to get to that one.
Yes, UWS has a Gourmet Garage.
Is this Yorkville Fairway locale the old Grand Union space?
i count them when the lease is signed and the build-out begins. under that criteria the uws TJs should count, no?
I don't remember Grand Union so well.... but I don't think so. I thought the Barnes & Noble / Circuit was a newer building. It at least got some major reno.
"i count them when the lease is signed and the build-out begins. under that criteria the uws TJs should count, no? "
Yes, I think thats fair... but did they actually start building it?
i thought so. it's new construction, and thus an empty blank space, so the work should move along.
No love for Agatha and Valentina on the UES? I'm a big fan of their produce (tend not to bother with the fish there)