BITING THE APPLE
DO YOU HAVE SQUARE FEET?
Well, the Gold Coast of Madison Avenue, NYC,
has many to spare. Because? Empty. Why?
Quoting a real estate broker, "This is as bad
as I've ever seen".
Seems that retailers on the ever posh avenue
are caught between, "Let's stay", and "Let's
get outta here". Depending on if a sale or two
can be made that day. Everyone's sitting on
The cost of a square foot on Madison Avenue?
About $1250. And everyone knows you need more
than one leg to stand on.
Desperate times in New York. The money addicted
deeply feel the affront of approaching a favorite doorway
and seeing a "store for rent" sign posted.
A dawning reality: some retailers are taking the bait
and moving a couple of unfashionable streets away
where landlords are offering cheaper rents. The retailers
who are still selling $3000 handbags, $1500 shoes,
$3500 hand embroidered tablecloths, may have to move,
perchance to lower prices. As may the tailors stitching up
Bespoke suits for some uppa-uppa scoundrels, at $7000
or more, a pop.
The rest of us used to shop at the ordinary stores, quite nice,
not posh. I'd like to welcome the Madison Avenue elite,
but where will I go? The Hudson River's already been