Apple's third Manhattan flagship to open in Meatpacking district by year's end

[AppleInsider]

After two false starts, Apple said Wednesday it will finally open its third Manhattan retail store by year's end, this time on the lower west side in the city's Meatpacking District.

CFO Peter Oppenheimer announced the plans during the company's second quarter conference call, saying the store would be located at 14th Street and 9th Avenue. The district originally housed some 250 wholesale meatpackers, but has been in transitioned lately into trendy retailers, hotels, restaurants and nightspots.

For Apple, the west side store will mark the third out of a projected five store Manhattan project. Over the last two years, the company began and then cancelled store initiatives in the Flatiron District and on West 34th Street. However, it does operate two very successful stores in the SoHo district of the city, and on Fifth Avenue near Central Park.

Based on checks, a probable location of the new store is 401 W. 14th Street -- a three-story, 52,000 square-foot corner property that holds a prominent location at a three-street intersection. The property is managed by R.K. Futterman & Associates, the same company that brokered the deal for the Apple Store Fifth Avenue.

The building at 401 W. 14th Street has undergone an extensive $10 million renovation after its original meatpacking tenant was reportedly forced out in early 2006 by an investment company that wanted to upscale the property. At least one restaurant has occupied the ground floor space since then, but moved out earlier this year because it wasn't making money.

News accounts have said that Futterman was looking for a single tenant to occupy the building at a cost of $5 million to $6 million a year. Other accounts said that ground-floor tenants were paying $300 per square-foot annually for the 12,000 square-foot space.*

The Meatpacking District was recently added to New York's register of historic places, limiting the architectural changes that can be made to the exterior of buildings. It's located about a mile from the Apple's SoHo store -- where Apple also dealt with architectural limitations -- and adjacent to both the Greenwich Village and the West Village.

Apple reportedly has at least one more store on the drawing board for Manhattan: somewhere on the Upper West Side, most likely in area of 84th Street and Broadway.

About the author: Gary Allen is the founder of ifo Apple Store, a publication providing close watch of Apple's retail business. When Gary isn't busy dishing dirt on the Mac maker's latest retail stores, he finds himself hanging out at one. For more of his work, check out ifo Apple Store and his in-depth coverage of Wednesday's retail announcements.

[ View this article at AppleInsider.com ]

[digitalclips]

And the beat goes on ...

[Kasper]

Originally Posted by digitalclips

And the beat goes on ...

Guys/Gals,

If anyone is in the area of the Meatpacking district today and can snap a photo of the proposed location listed in the article, it would be greatly appreciated. You can mail me at: kasper (at) appleinsider.com.

Best,

K

[digitalclips]

Look forward to seeing a picture. Hey Kasper, so you are like a 'Linden' then ... Honored to meet you sir

[undergroundninja]

according to tuaw, its likely this building

add in some photoshop, and you have:

[ncee]

Originally Posted by undergroundninja

according to tuaw, its likely this building

add in some photoshop, and you have:

And at $300.00 per square foot …

Maybe some less expensive sites, in areas where Mac's can't be purchased / seen with great ease, would make more sense!

I mean, hell a store in Portland, Maine (Maine has some of the highest number of Mac's per person in the country) - would cost maybe $45.00 per square foot … maybe Mac's could come down in price if they start doing business like any other business person / company, and looking at the bottom line, instead of the glory of the location.

Yes New York city has more people then the whole state on Maine, but the point is - let's do this for less, and save or pass on the savings.

Heck you know and I know, there ARE places all across America where Apple could set up shop, and do very well, for a whole hell of a lot less money!

And beside that, not everyone lives in, or visit's NY, or many of the other locations they are setting up shop.

Hell if they insist on being in these high rent districts, they should surely see the benefits of locating in some others areas for much less money.

Hell how about Conway, NH - Settlers Green Mall is a zoo many times throughout the year as folks are there shopping, skiing, vacationing … SPENDING money. Conway is just 30 minutes from Lake Winnipesaukee - which has hundreds of VERY rich folks (many of the homes here START at 2 MILLION dollars: (and some cost $35 MILLION to build

- http://www.ideatoreality.com/residen...tial-appe4.htm
- http://www.winnipesaukee.com/photopo...eCamp18AsW.jpg
- http://www.winnipesaukee.com/forums/...ead.php?t=2355

There are several area's like this, that work VERY well, for ALL the other MAJOR retailers.

Skip

[leenyc]

BTW, this is about 100 feet from the building that houses 250k+ sqft of Google's NY offices...

[melgross]

I don't know. I'm pretty familiar with this area of Manhattan, and it seems to be an odd place for an Apple store. Too close to other Apple retailers, as well as their own store. Also a bit far over on the West side.

[Producer]

I live in the flatiron area.. I'm not big on their decision. The meatpacking is more of a nighttime area..it's also located far west not convenient to many trains and doesn't have the daytime walk by traffic as the other locations do. I don't know what their thinking here other than that in a few years the area may become more of a daytime place as it has changed so rapidly...
A much more sensible place would be the flatiron area.. convenient to all trains, mostly retail stores these days, centrally located, lots of foot traffic both day and night. Only down side is tekserve is in the area.
The other option would be union square... convenient to trains, lots of students, It's basically on 14th st but much more central. Any other opinions here?

[melgross]

Originally Posted by Producer

I live in the flatiron area.. I'm not big on their decision. The meatpacking is more of a nighttime area..it's also located far west not convenient to many trains and doesn't have the daytime walk by traffic as the other locations do. I don't know what their thinking here other than that in a few years the area may become more of a daytime place as it has changed so rapidly...
A much more sensible place would be the flatiron area.. convenient to all trains, mostly retail stores these days, centrally located, lots of foot traffic both day and night. Only down side is tekserve is in the area.
The other option would be union square... convenient to trains, lots of students, It's basically on 14th st but much more central. Any other opinions here?

You might remember my company almost across the street from the Flatiron building, New York FilmWorks. We moved and then sold out several years ago.

[Thataboy]

Very odd area to build an Apple Store. I don't think the area gets enough retail foot traffic to sustain that kind of rent. Most of the stores around there are small, pricy boutiques.

I question bringing FIVE stores into Manhattan. Is it really so hard to get to SoHo or 5th Ave? I think the UWS location mentioned in the article around W 84th St makes more sense.

Maybe they should think about building a store near the Atlantic Terminal in Brooklyn and a similar hub in western Queens (Court Sq?).

[veinous_bulbus]

" At least one restaurant has occupied the ground floor space since then, but moved out earlier this year because it wasn't making money."

This Statement is a flat out LIE. I was a regular customer at the restaurant (a Belgian Bistro) and it was not only extremely busy, but VERY VERY Profitable. That's the price of progress I guess. The way developers are allowed to buy up properties and kick out established tenants and businesses with LEASES is disgraceful!

But hey that's progress for you! Good luck Apple, this corner will be the new congregating place for the Bridge and Tunnel crowds on Saturday night. The streets will flow with Long Island Ice Teas and VOMIT, but there will be lots of CASH floating on the top too!
Dive right in Yuppie Scum!

[melgross]

Originally Posted by veinous_bulbus

" At least one restaurant has occupied the ground floor space since then, but moved out earlier this year because it wasn't making money."

This Statement is a flat out LIE. I was a regular customer at the restaurant (a Belgian Bistro) and it was not only extremely busy, but VERY VERY Profitable. That's the price of progress I guess. The way developers are allowed to buy up properties and kick out established tenants and businesses with LEASES is disgraceful!

But hey that's progress for you! Good luck Apple, this corner will be the new congregating place for the Bridge and Tunnel crowds on Saturday night. The streets will flow with Long Island Ice Teas and VOMIT, but there will be lots of CASH floating on the top too!
Dive right in Yuppie Scum!

You can't kick out a business with a valid lease, even if you are a new owner. You can buy them out.

But most likely, the restaurant wasn't doing as well as you thought it was.

Half of all new restaurants go out of business in the first year. They are almost always under capitalized. And some spots simply aren't good for restaurants.

[TenoBell]

It may seem odd today, but that area will be dramatically different over the next five years. With the construction of the Highline Park nearby. There are also about 20 major commercial, hotel, and residential construction projects happening up and down the Highline.

[melgross]

Originally Posted by TenoBell

It may seem odd today, but that area will be dramatically different over the next five years. With the construction of the Highline Park nearby. There are also about 20 major commercial, hotel, and residential construction projects happening up and down the Highline.

I think it will take more than five years before we see all of that. But, even five years is a long time.

In the shorter term, say, the next two years, this seems to be an odd choice. If they are paying $300 a foot there, it is VERY expensive.

We were paying just under $100 a foot at 928 Broadway for the first floor, basement, and second floor, when we moved out about three and a half.years ago.

[TenoBell]

I think it will take more than five years before we see all of that. But, even five years is a long time.

Have you been over there lately the entire area is a construction zone.

Construction on the High Line is well underway. The first phase is set to be finished 2008 with the entire park to be completed by 2012.

















Recently completed IAC Building on 11th Avenue. Two blocks from the High Line construction.

[TenoBell]

Buildings around the High Line that have recently broken ground or currently under construction




100 Eleventh Aenue



The Standard Hotel




Caledonia, W. 17th St. between Ninth and Tenth


447 West 18th Street between 9th and 10th ave



245 Tenth Avenue


10 Chelsea

[melgross]

[QUOTE=TenoBell;1075170]Buildings around the High Line that have recently broken ground or currently under construction

Congrats. Nice pics!

But, yeah, I've been around there. I'm not convinced that five years will do it

[Ireland]

Originally Posted by TenoBell

Congrats. Nice pics!

Do those images make him a better New Yorker than you?

[TenoBell]

I'm not convinced that five years will do it

We shall see in five years. The High Line is an extremely unique development. Paris is the only other city in the world with an elevated park in the middle of the city. Currently thousands of housing units and hundreds of new hotel rooms are being built to take advantage of the High Line, and it isn't even completed yet. Property values around the High Line are skyrocketing as major real estate developers all jocky to build on the High Line.


A section of the High Line before construction.


What that section will look like after the High Line is completed.


The brick building in all of these pictures was bought in 1986 for $800,000. Last year it sold to a developer for $12.5 million. He will build this condo on top of it. All of this is development is coming to an area that was dead five years ago because of the High Line.

To bring this back to Apple. The Meatpacking district is already a trendy shopping are that is bringing in expensive development and people will lots of money. Also Google's New York office is a block away and the IAC which owns various websites (Ask.com. Evite, Match.com, LendingTree) is nearby. Both of those heavy weights will attract other tech companies to migrate to the area.

[melgross]

Originally Posted by Ireland

Do those images make him a better New Yorker than you?

Certainly one who has more drive in assembling this than I do.

Considering my profession though, I've seen more photo's of New York than most people will ever care to see.

I also have a set of pictures of the Towers falling down that a friend shot from his 14th floor studio at Union Square.

That's something I hope to never have to see a duplication of.

[melgross]

Originally Posted by TenoBell

We shall see in five years. The High Line is an extremely unique development. Paris is the only other city in the world with an elevated park in the middle of the city. Currently thousands of housing units and hundreds of new hotel rooms are being built to take advantage of the High Line, and it isn't even completed yet. Property values around the High Line are skyrocketing as major real estate developers all jocky to build on the High Line.

The brick building in all of these pictures was bought in 1986 for $800,000. Last year it sold to a developer for $12.5 million. He will build this condo on top of it. All of this is development is coming to an area that was dead five years ago because of the High Line.

To bring this back to Apple. The Meatpacking district is already a trendy shopping are that is bringing in expensive development and people will lots of money. Also Google's New York office is a block away and the IAC which owns various websites (Ask.com. Evite, Match.com, LendingTree) is nearby. Both of those heavy weights will attract other tech companies to migrate to the area.

There were (and are) a great deal of arguments about that part, and the elevated roadway downtown as well. But, look at how long the fight about the new buildings on the Towers lot is taking. If that gets through in five years, it will be a miracle. There have been numerous court battles involving parts of this as well.

[melican]

Are they talking about where the restaurant Markt is (was?)?

I'm with the majority here; this area is too much about being hip and not enough about actually purchasing things. Actually, this location may reflect poorly on Apple. Do you want your company associated with overpriced designer clothes and trendy bars?

Admittedly, they might sell some iPods in the Meatpacking district, but consumers and Apple would be better served with a Flatiron location, Upper West Side Location, or maybe even a 42nd Street or Grand Central Station location.

[TenoBell]

There were (and are) a great deal of arguments about that part, and the elevated roadway downtown as well.

Yeah Rudy Giuliani originally passed city ordinance to have the High Line torn down. Some people wanted it torn down and still want it torn down. But all of that is done now and its all being built. For the most part the city supports turning it into an elevated park and had little trouble raisin the funds to do so. The first phase of the High Line will be finished next summer, and the second phase will begin construction this summer and is expected to be finished by 2009.

Most of the buildings I showed you are currently under construction, with accompanying construction photos. So there isn't much for anyone to fight against its all happening.

Most of the current conflict is between the community and how the city allows developers to encroach on the High Line itself. The last big fight was over The Standard Hotel and how it flies over the top of the High Line. I believe the solution is that the owner paid a lot of money for air rights. That is why developers are quickly buying up buildings that were already attached to the High Line when it operated as a railway. People are afraid of the High Line becoming a backyard for rich people.

But, look at how long the fight about the new buildings on the Towers lot is taking. If that gets through in five years, it will be a miracle.

The WTC fight was something entirely different. That involved a lot of Federal, State, and local bureaucracy and a lot of input from all types of people who felt they had an opinion on what should be done with the site. From people who thought nothing should be built, the site should be left as an empty memorial. To people who thought they should rebuild the twin towers exactly as they were.

But all of that fighting is over and now its being built.

The complex is tracked to be finished by 2013

Certainly one who has more drive in assembling this than I do

Yeah, I have an architecture fetish.

The building designers are clearly contemptuous of window washers

Wow that's true, Someone is going to have a tough job.

[melgross]

Originally Posted by TenoBell

But all of that fighting is over and now its being built.

The complex is tracked to be finished by 2013

Actually, it's not. We may like to think it is, because of Spitzer's support, but I'm willing to bet that this isn't the final determination.

Yeah, I have an architecture fetish.

I have a number of friends who are architects, and they are all over the place about thise projects.

Wow that's true, Someone is going to have a tough job.

But, think about how much money they will be making!

[TenoBell]

Actually, it's not. We may like to think it is, because of Spitzer's support, but I'm willing to bet that this isn't the final determination.

I don't want to belabor the point as this is getting way off the topic of Apple's store. But unless you have some secret inside information all reported info says its pretty much a done deal.



This is a picture of the WTC pit. They are driving steel beams that are 30 feet long and weigh 28 tons into bedrock that will support the foundation. Floors are scheduled to begin to rise early next year.

Here is an article on the company that has been fabricating the steel columns.
http://local.lancasteronline.com/4/203443

I have a number of friends who are architects, and they are all over the place about thise projects.

I'm not sure what you mean by this. Respectfully, what they think has no bearing on whether these projects are built or not.

[melgross]

Originally Posted by TenoBell

I don't want to belabor the point as this is getting way off the topic of Apple's store. But unless you have some secret inside information all reported info says its pretty much a done deal.

Just going by what I read in the NYTimes.

This is a picture of the WTC pit. They are driving steel beams that are 30 feet long and weigh 28 tons into bedrock that will support the foundation. Floors are scheduled to begin to rise early next year.

Here is an article on the company that has been fabricating the steel columns.
http://local.lancasteronline.com/4/203443


I'm not sure what you mean by this. Respectfully, what they think has no bearing on whether these projects are built or not.

Just an observation. Their opinions are no more, or less, important than ours are.

[TenoBell]

Just an observation. Their opinions are no more, or less, important than ours are.

Ok,

[wirc]

Five years is fine. Just because it looks grungy means nothing - all that matters is that there is foot traffic. A lot of the appeal of Meatpacking (which is "so over" apparently) was its edginess - the clash between the factories and the designer clothing. However, the neighborhood is changing, and becoming a shopping destination. A division of the Whitney museum is also moving in 2 blocks south, which might create traffic in between it and the private galleries in the lower 20s. The only real problem is the distance to a subway, which is over on 8th Avenue.

But there are already plenty of hotels and shops, not all of which are high luxury. A lot are in Apple's milieu: expensive, well designed, but not necessarily snobby. Rest assured, assuming no huge real estate collapse, all of these buildings (and the High Line) will be built in the next 3 years, and Apple will be there. The only flaw is that this is off of tourist maps, and primarily the domain of the wealthy. But where isn't anymore, south of 86th street?

And, although my opinion may not matter more than the rest of yours, let me say that the Freedom tower will be built, to ruin the skyline, while the Greenwich street buildings get lost the sides. It really shows when you give an architect 6 weeks to do Schematic design on a 100-story skyscraper! I would also like to point out that the Greenwich street buildings, by using the air rights of the memorial site, will be the densest, darkest development in the history of the city.

And yes, Jean Nouvel has quite a history of spiting window washers.

[bdkennedy1]

I certainly hope they're using steel beams that don't melt.

[artse]

I don't understand all of the flagships!
And why does every store in New York become a flaghip?

[melgross]

Originally Posted by artse

I don't understand all of the flagships!
And why does every store in New York become a flaghip?

Because New York is Apple's largest market. Both stores here are near capacity. If they add a small store, it will be worthless.

[SpamSandwich]

I'll be first to suggest they dub the new gigantic Apple Store, the "Orchard".

[melgross]

I'm wondering if this will harbor video areas for new Apple products in that line. That would need fair floorspace.

[Buck]

I wonder if it's not too risky to actualy own all this space and place all bets that the business will continue to grow and nothing will happen and huge Apple mega-malls will be ever-popular... hmm. They're pouring so much money in renovation one has to wonder if that ever pays off and the exact point of it.

[Ensign Pulver]

Originally Posted by ncee

And at $300.00 per square foot …

Maybe some less expensive sites, in areas where Mac's can't be purchased / seen with great ease, would make more sense!

I mean, hell a store in Portland, Maine (Maine has some of the highest number of Mac's per person in the country) - would cost maybe $45.00 per square foot … maybe Mac's could come down in price if they start doing business like any other business person / company, and looking at the bottom line, instead of the glory of the location.

Your deep misunderstanding of retail expenditure is eclipsed only by your deep misunderstanding of punctuation.

Mac's

visit's

area's.

Macs, visits, areas.

Why do people do this? It blows my mind. Stop putting random apostrophes in the middle of words.

[Ensign Pulver]

Originally Posted by Buck

I wonder if it's not too risky to actualy own all this space and place all bets that the business will continue to grow and nothing will happen and huge Apple mega-malls will be ever-popular... hmm. They're pouring so much money in renovation one has to wonder if that ever pays off and the exact point of it.

I guess you didn't read the last earnings report....

[Buck]

Macs, visits, areas.

http://www.angryflower.com/destro.html

[ascii]

What are they going to do with all these high priced stores if there's an economic recession?

[wirc]

Originally Posted by ascii

What are they going to do with all these high priced stores if there's an economic recession?

In most recessions, the richest are affected the least, unless they're in the market. Especially in a city where the vacancy rates are very low and the incomes very high. These stores will still make money.