Two Big Retailers Drop Plans for Two Big Manhattan Stores

Home Depot and Apple are dropping plans for two big Manhattan stores. The Slatin Report offers the insider's view on the deals.

1 minute read

January 26, 2007, 1:00 PM PST

By Chris Steins @planetizen

"After months of hand-wringing over costs and benefits, Home Depot has shut the door on lower Manhattan. Late last week, the company quietly killed its year-old plans to open a store that would have significantly changed the retail landscape at the convergence of the burgeoning SoHo and Tribeca neighborhoods."

...

"[R]eal estate sources say that, from the start, Apple had doubts about the compatibility of its leading-edge image with that of middle-America 34th Street, at least as it currently stands. While strong retailers like Gap, American Eagle and Forever 21 are happily ensconced along the block, "unfortunately, a lot of the old 34th Street – third-rate tourist merchants and rip-off artists" still remain, says one long-timre retail broker."

FULL STORY: Home Depot Dumps Downtown, Apple Peels 34th

Thursday, January 25, 2007 in The Slatin Report

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