Retail market sees a turnaround in 1993.

It was not the best of years, nor was it the worst. What's certain is that 1993 definitely saw its share of action, with some retail businesses booming, others going bust. Through it all, retail leasing played a heady game of musical chairs. Superstores like Filenes ventured into Manhattan, at long last giving City dwellers a taste of the suburbs. Coffee mania began to spread with espresso bars appearing on every other corner. And the luxury market on Fifth and Madison Avenues experienced an invigorating revival with the entry of anchors Barneys and Polo Sport.

It's the coming and going of retailers which attracts tourists, delights local residents, and gives a definition, no matter how transitory, to the neighborhoods of Manhattan. Last year, each of New York City's prime retail areas bustled with activity and growth.

SAMSONIAN SOHO: Soho, like the legendary Samson, came back very strong in 1993. A majority of Soho's vacant space was leased in 1993. It went mainly to retailers from the West Coast, like Replay Superstore, and designers including Leon Max, Ron Frits, Nicole Miller, Bettina Reidel and Betsey Johnson, some of which have outlets either in Manhattan or outside New York, along with a host of new shoe stores. French Connection set up shop on Lower Broadway, plus many new restaurants and cafes opened, which has brought back a lot of the excitement to the area.

FLATIRON PRESSES ON: Although it flagged for a while, the Flatiron District - Fifth Avenue between 15th and 23rd - made an incredible comeback in 1993 with the opening of the new Au Bon Pain on the corner of 5th and 15th. Bebe, the California-based women's chain, launched their first store in Flatiron, and a second on Madison; as well as the arrival of Eureka Joe, Intermezzo, Eileen Fisher, and Sam Goody. Lower Fifth Avenue is an exciting retail street with very little space remaining.

LADIES MILE: Going slightly further west to Sixth Avenue, still part of Flatiron, is the superstore scene - Today's Man, Bed Bath & Beyond, and a new Staples Superstore already in place, soon to be joined by the first TJ Maxx in the City, and also to appear, a mega Barnes & Noble.

MIRACLE ON 34TH: Thirty-fourth between Fifth and Sixth Avenues continues to be one of Manhattan's high volume, popularly priced streets dominated by national retailers. The Gap is expanding for the third time. Lechters came into the Empire State Building, as did Perfumania, Payless and Sam Goody. Thirty-fourth Street's new retail stores, many making a Manhattan debut directly from suburban malls, saw so much activity in 1993, that there's virtually no available space left.

MAGNIFICENT MADISON:

When you stroll up Madison, there seems to be a preponderance of empty space. But the average walker has no idea that behind every vacancy there are at least six deals pending. There's a real pick and choose scenario on Madison Avenue, to the benefit of landlords. Continually renewing itself with the juxtaposition of prestige, variety stores, and a mix of price points, Madison is a diehard New Yorkers' paradise where one can spend $50 or $5,000 within a matter of yards. Ninety-three saw the entry of Nine West, a moderately priced shoe retailer; Peter Fox, shoes at a higher price; Malo, for premier cashmere; Polo, Ralph Lauren's answer to the Gap; Barneys; as well as a smattering of designer shops who migrated uptown from Soho such as Morgan LeFay. Pushing north into the 70s and 80s, Madison Avenue remains one of New York City's premier retail locations.

FABULOUS FIFTH & FIFTY SEVENTH: The crossroads of New York, Fifty Seventh and Fifth, is equivalent to Europe's Golden Arch. Landmarked by jewelers Tiffany's, Bulgari, Van Cleef & Arpels and soon to open Mikimoto slightly further south, this famous intersection experienced an incredible 1993. The coup de grace last year was, of course, Warner Bros. on the northeast corner. Just next door, Levis will take Anne Taylor's premises (one of three in town).

Coming down Fifth, a street which continues to have the highest pedestrian traffic anywhere in the world, Ferragamo will open its flagship in Trump Tower. Expanding from 3,000 to 10,000 square feet, Ferragamo will be operating on three floors in the former Charles Jourdan, Buccellati and Martha, becoming the largest retailer in Trump Tower. Other new stores on the Avenue included luxury shoe retailer, Bruno Magli; Golden Showcase, a children's bookstore opening as you read these lines; and the expanded Barnes & Noble. It was a stellar year of leasing activity on Fabulous Fifth between 50 and 58th Streets.

SPATIAL, SPECIAL 6TH IN THE 50s: The king is dead, long live the king. In a nutshell, the demise and mergers of mega banks who vacated huge spaces on Sixth Avenue in the early 90s heralded the entry of out of state retailers who previously could not secure space as generous as 5,000 to 8,000 square feet on Avenue of the Americas. Canadian-based Tristan & America will debut on a two-level store, a block north of the Gap on the Southeast corner of 49th Street. Two blocks north, on the Southeast corner of 51st, in another former bank branch, French Connection will take space next door to the Body Shop. Further north, a new Coconut two-level superstore took over the old Sam Goodys. Home to the Gap, Casual Corner, Tricot Caroll, Cosmetics Plus, and the hot spot Harley Davidson Cafe, now Sixth Avenue in the Fifties offers a diverse shopping experience and looks far less corporate than previous years. Much of the retail build-up is attributable to Rockefeller Center's commitment to enhance retail in the nearby vicinity.

RESIDENTIAL NEIGHBORHOOD REVIVAL: Both the upper West and East sides of Manhattan leased a large percentage of vacant space, at street level, beneath residential buildings. Although Broadway leased a majority of their retail space to service-oriented businesses, Barnes & Noble, Talbots, along with Filenes, national retailers and coffee bars such as New World, Coopers, and Timothys, established themselves as well. As for the East Side, Third Avenue in the 60s will be home to a new 20,000 square-foot Food Emporium; Bombay expanded and several national retailers set up shop.

Nineteen-ninety three was Garrick-Aug's biggest year since its inception in 1975. We are continuing to service foreign clients, predominantly from Western Europe, eager to enter the US market. We are also continuing to assist American retailers seeking shop locations abroad and we're poised to do business in Eastern Europe, where there is a huge demand for very basic retail stores.

In 1990, we walked into a wall - everything stopped. Thankfully, in 1991 and 1992, the retail market began to recover and by the end of 1993 everything looked far better. Maybe there's a psychological factor at play here: when people want a healthier market, and when they think positively, the "collective unconscious" becomes a powerful force in bringing about changes for the better. We have seen the worst and, finally, we are on our way up again.

To sum up, the last six months of 1993 was characterized by terrific competition for the same space. Those who did not strike the great deals available in 1992, still had opportunities in 1993. But looking into '94, they will have to join a growing pack of bidders for an increasingly limited supply of good retail space. On the up side, we definitely feel consumer confidence is on the rise. The pent up demand for consumer goods encouraged retailers to expand in 1993 and, overall, the retail atmosphere is once again full of hope and excitement.