Chanel Beauty is opening on North 6th, down the street from Bottega and Hermès pop-ups.
Rents along North 6th Street, where Chanel is landing, are as high as $300 to $400 per square foot these days, says Brandon Singer, who runs the brokerage Retail by MONA. That’s a jump from $225 per square foot along North 6th Street last year,“When Manhattan was dead, luxury started signing leases in the corridor, and now we’re seeing that,” said Singer. “It’s not what you’d necessarily think of in Williamsburg, but it’s where Soho used to be, where Meatpacking used to be.
Still, Brooklyn retail isn’t yet commanding the rents of the actual Fifth Avenue, where boutiques last year were$2,000 a square foot, and Singer says that’s a long, long way off — Brooklyn just doesn’t have the same density. But more luxury stores are likely to follow. Chloé, for one, seemed to be testing the waters during the pandemic with
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