Brooklyn retail set to take off in 2006, says expert.Speaking before more than 70 members of the Brooklyn Chamber of Commerce recently, Joseph A. Aquino, executive vice president of Prudential Douglas Elliman's Retail Leasing and Sales Division, shared his predictions for the top retail trends in Brooklyn and New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. in 2006. Mr. Aquino sees Brooklyn as a place of unlimited retail potential, noting the recent proliferation proliferation /pro·lif·er·a·tion/ (pro-lif?er-a´shun) the reproduction or multiplication of similar forms, especially of cells.prolif´erativeprolif´erous pro·lif·er·a·tion n. of Brooklyn waterfront projects akin to London's Canary Wharf
Canary Wharf is a large business development in London, located on the Isle of Dogs in the London Borough of Tower Hamlets, centred on the old West India Docks in , and the possibility of an influx of fine restaurants and retail to take advantage of the borough's spectacular Manhattan views. Up until now, Mr. Aquino said, Brooklyn has been "understored." Sharing an anecdote anecdote (ăn`ĭkdōt'), brief narrative of a particular incident. An anecdote differs from a short story in that it is unified in time and space, is uncomplicated, and deals with a single episode. about how he and his wife recently moved out of Brooklyn, due to her not having enough places to shop, he joked that, as a retail professional, he could not argue with that. However, the tide will soon turn. Mr. Aquino added that with ample parking to attract Brooklynites, who predominately use their cars for transportation, and entertainment being brought into the equation, Brooklyn could soon be home to better quality stores. Among the models for retail development that Mr. Aquino shared is the prestigious Americana Manhasset Americana Manhasset is a high-end premium open-air shopping center located in Manhasset, New York. It is the largest and most well known shopping center in the area commonly referred to as the "Miracle Mile. in Long Island, which he feels could be duplicated in Brooklyn by utilizing the long stretches of waterfront property to create a block of 80 to 100 stores, thereby attracting European retailers. Mr. Aquino highlighted that Europeans, as well as luxury American brands, are not attracted to smaller projects with one or two stores, but instead prefer "clusters of retail." He advised the audience to study neighborhood demographics The attributes of people in a particular geographic area. Used for marketing purposes, population, ethnic origins, religion, spoken language, income and age range are examples of demographic data. to hone in on the more affluent areas of Brooklyn, as well as undiscovered areas for growth. Touching upon retail trends in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of for the coming year, he relayed how residential development has been the darling, with anything and everything under the sun being converted to residential with retail uses at the building's bases. He sees this trend continuing in 2006, with an ongoing push for new construction fueling the city's retail market. "2006 will be a fantastic year--especially for Brooklyn," said Aquino. |
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