Harlem Bespoke: Reports have
confirmed that Shop Fair supermarket has secured a lease at the historic Alhambra ballroom building on the corner of West 126th Street and Adam Clayton Powell. A total of 20,000 square feet of space will be the main attraction and the new grocery option is only one avenue over from Whole Foods on Lenox. Many had hoped that Trader Joe's would eventually come around but the affordable chain appears to have not been regarding Harlem seriously as part of Manhattan's competitive retail market.
HarlemBespoke.com 2018
I could see a TJs in East Harlem probably closer to 96th where there is more density. Similar to where their new UWS store is. TJs business model would find Harlem too expensive with not enough density and the right income level to support their stores, especially with Whole Foods in the neighborhood. Retail space wise, TJs loves to move into a space that is hard to rent, basement level stores, stores with awkward layouts or low ceilings. They approach real estate and their business in the same they approach there buying. It's been awhile since I've worked there but they also used to have no credit line. Everything was paid in cash, including real estate, so that requires them to get an unbelievable bargain.
ReplyDeleteIf there's one thing we're learning about Harlem and the loss of long time or new favorites -- Make My Cake, Morningside Coffee -- landlords in Harlem seem to radically misunderstand the market, the amount of foot traffic, the need for curation in order to build up a market. I don't have positive feelings about the retail seen in Harlem. Manhattan in general too quite frankly.