In the News: Retail Rents Are Finally Dropping

••• “Asking rents in many of New York City’s priciest shopping corridors declined in the first quarter of the year, one outcome of the broader national retail headwinds hitting landlords across the U.S. Average prices for ground-floor space in nine of the 11 major retail districts in Manhattan fell in the first three months of 2017, according to real-estate services firm Cushman & Wakefield. SoHo recorded the largest percentage drop in average asking rent from the previous year, falling 12% to $488 a square foot.” —Wall Street Journal

••• “Best Made, a shop in Tribeca, has acquired hundreds of mostly Griswold [cast-iron] pieces, made between 1900 and 1960 and fully restored, including Dutch ovens, corn-stick pans and waffle irons. They will be on sale at the store only on Saturday and Sunday, and sold online on Monday.” —New York Times

••• Now Joe is saying the World Trade Center mall café will open in July. (The New York Post says the café is near Eataly, but it’s on the balcony by the Condé Nast entrance.)

••• “CB1 Endorses Proposal to Close Half of Edgar Street, Creating Plaza for New School” in FiDi. —Broadsheet