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Article: The changing face of retail on Park Avenue.
- Article from:
- Real Estate Weekly
- Article date:
- November 12, 1997
- Author:
CopyrightCOPYRIGHT 1997 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Throughout New York's history, the image of the Park Avenue business district has been distinguished by office buildings punctuated with banks and other financial institutions. In fact, retail in Manhattan is synonymous with just about every other avenue but Park.
Part of the reason lies with the fact that building owners were protective of the image of their buildings, feeling that an institutional tenant, without "sale" signs, was much more in keeping with the image of the office tenancy above.
However an interesting phenomenon is now taking place, with an avenue known historically to house conservative tenants fast becoming a retail district.
Part ...