Big bucks retailers not done with city.

New York could be in line for another booming year on the retail front.

According to Marcus & Millichap's National Retail Report, the city jumped from the number nine spot on the national ranking scale last year to number eight, due to strong market fundamentals such as high incomes, strong sales and low vacancy rates.

And brokers say there are several large stores searching for the right New York location out there.

According to one source, the Apple computer store is about to sign a 20,000 s/f lease at the General Motors Building, while luxury retailers like Saks and Barney's may be looking at the Old Navy site opposite Bloomingdale's in Soho.

Another broker mentions that Walmart has been trying to figure out the best way to break into the market and Target is ready to expand. There is even a possibility that IKEA might build a home in Manhattan with a 30,000 s/f store.

"Whenever we think we are done, someone new comes along," says James Buslik, a principle with Adams & Company. "There are metropolitan companies who have expanded, like PC Richards and Sleepy's, and then there are national chains who want to be here, but find it hard to assemble the space that they need."

That might not be as difficult, however, if the retailers expand their geographic horizons and wait a few more months.

Buslik thinks that there are still plenty of opportunities for a large user in more unconventional locations. "There are large blocks of space out there, but they are in areas where the retail potential is mostly unproven, like on the north side of 23rd Street and [certain blocks] on 14th Street. There are great transportation networks there and the volume of sales is up," he says.

And his colleague, Richard Hodos, president of Madison HGCD, feels that a few spaces might soon open up because of unwise real estate decisions made by certain retail chains.

"Banks have gobbled up a lot of space, but the retail banking industry is very cyclical, so a lot of those spaces might be coming back to us," he says. "Likewise, Duane Reade has taken a lot of real estate, some say too much real estate, in order to keep Walgreens and CVS out of the market. Any time a retailer like that starts overpaying and making deals where they are on every block, you wonder how solid they are as a business."

Faith Hope Consolo, chairman of retail leasing and sales with Prudential Douglas Elliman, agrees that if the retailer is large enough and successful enough, a smart broker will be able to accommodate it, even in a tight market.

Consolo herself expects several significant deals--including a 10,0000 to 20,000 s/f new Cheeseburger restaurant in Times Square and a first store for a large Chinese apparel designer--to close in the near future.

"If the economy stays strong and the interest rates don't go crazy, then finding space will be tough," she says. "But I think some of the older leases will become due this year and we'll make it happen. Plus, you have a lot of new developments and conversions coming online. The only neighborhood that I think will be a challenge will be where the luxury market [is located.]"