Meatpacking District adds prestige after landing – Business News
The once-malodorous Meatpacking District now packs a sweet-smelling punch — particularly at Ninth Avenue and Gansevoort Street, a nook that attracts some of the world’s most prestigious fashion manufacturers.
The subsequent high-end arrival can be Italian model MooRER, which can launch its first US store in time for the vacations at Romanoff Equities’ 73 Gansevoort St. The 3,400 square-foot Washington Street nook, on the foot of the High Line Park and steps from the Whitney Museum, was beforehand restaurant La Pecora Bianca
Colliers’ Thomas Citron, who represented the tenant, wouldn’t say what MooRER is paying. But knowledge from the Real Estate Board of New York show that a next-door space at 63 Gansevoort is asking $550 per sq. foot.
The subsequent high-end arrival can be Italian model MooRER, which can launch its first US store in time for the vacations at Romanoff Equities’ 73 Gansevoort St. A store in Tokyo, above. Google Maps
The native Business Improvement District calls the zone “a fusion of grit and glam,” however what little grit stay is fast disappearing. As we reported, the few remaining meatpackers will quickly go away.
The compact space is home to Gucci, Hermes, Loro Piana, Bottega Veneta, Diane von Furstenberg, Hermes — and shortly to Baccarat, which gave up its uptown Madison Avenue digs for 33 Ninth Avenue.
Verona-based model MoorER makes a speciality of luxurious outerwear and different attire made in Italy. It has shops all through Europe and Japan. The New York launch will spearhead enlargement within the US. (The title MooRER was impressed by founder and CEO Moreno Faccincani.)
Citron credited Romanoff, the most important Meatpacking District landlord and developer, for making the deal attainable. Because the location is within an historic district, Romanoff needed, and obtained, the blessing of the Landmarks Preservation Commission to create a storefront on Gansevoort Street, which beforehand had none.
The compact space is home to Gucci, Loro Piana, Bottega Veneta, Diane von Furstenberg and Hermes. Steve Cuozzo/NY Post
Barton Perreira, a luxurious eyewear bran on Hudson Street. Steve Cuozzo/NY Post
If not for that, “I don’t think we would have landed there,” Citron mentioned. (Romanoff was repped by Cushman & Wakefield’s Michael O’Neill.)
Several forces are driving Meatpacking magic. Although a few offers at prime places commanded broadly reported rents of up to $500 per sq. foot, rents are on average decrease than in Soho — between $195 and $257 per foot within the first half of 2025, versus $621 per foot in tourist-trampled Soho, in response to REBNY.
Several forces are driving Meatpacking magic. Although a few offers at prime places commanded broadly reported rents of up to $500 per sq. foot, rents are on average decrease than in Soho. Steve Cuozzo/NY Post
Unlike in Soho, Meatpacking has some giant retail vacancies, particularly on Washington and West 14th Streets.
Cushman & Wakefield retail division vice-president Steven Soutendijk famous, “Rents are slightly more affordable than Soho. I also think it’s a slightly different aesthetic feel — a little more authentic because of the history as an industrial area being more recent.” He cited the Whitney and the High Line as “great tourist anchors” and famous “There’s more food and beverage and nightlife than in Soho.”
Baccarat gave up its uptown Madison Avenue digs and can quickly open at 33 Ninth Avenue. Steve Cuozzo/NY Post
Another issue, Citron mentioned, was proximity to the West Village and West Chelsea, “high-demographic, high-income neighborhoods. Those people don’t travel uptown much.”
Citron added that Meatpacking areas in former industrial buildings on cobblestone streets are “more unique with industrial edges, good ceiling heights and lots of columns.”
Meridien retail leasing president James Famularo mentioned the district’s “flagship retail spaces are as much about storytelling as about sales.”
Italian menswear store Zegna on Gansevoort Street. Steve Cuozzo/NY Post
Even so, he cautioned, “Asking rents at over $500 per square foot leave little room for error on top of build-out costs, insurance, and taxes.”
