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In the News: Target’s Tribeca Store to Test Delivery
••• Target “will soon start testing a same-day delivery service for in-store purchases from its Tribeca store to anywhere in Manhattan and to parts of Brooklyn and Queens. The service will carry a small fee.” I don’t shop at Target, so I only know what I see when I walk by the street-level windows, but how does the store appear to be doing? —Chain Store Age
••• What the 1st Precinct has to say about the aggressive ticket sellers near the Battery. —Tribeca Trib
••• “The city’s Office of Emergency Management will hold an interagency meeting with the police department and the Department of Education to review protocol around violent incidents near schools after administrators were left in the dark during last week’s shooting near Battery Park.” —DNAinfo
••• Midtown Australian restaurant Hole in the Wall has opened an outpost “tucked into a courtyard” at 15 Cliff: “Brunch is served every day until 4 p.m., followed by small plates of cheese and charcuterie along with coffee drinks and cocktails.” —New York Times
••• “The most recent tally of new and planned apartment construction in Lower Manhattan projects that more than 8,000 new residents will be joining the local population (already in excess of 60,000) in the next few years. The Residential Development and Population Growth study by the Downtown Alliance for the last quarter of 2016 (the most recent period for which statistics are available) indicates that 17 buildings, containing a total of 3,319 apartments, are now under construction and slated to come online Downtown this year, next year, in and 2019.” Presumably this is for below Chambers, the Downtown Alliance’s jurisdiction. —Broadsheet
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Target is always busy but not slammed. Their produce is surprisingly great.
Is the 1st Precinct unique in its evasion of responsibility for law enforcement in its catchment?
Are there any market indications that the condo market in downtown is softening?
Cami,
The market is definitely softening from where it was 1-2 years ago. There is a ton of new construction still ongoing adding further to the large pool of newly completed units.
Banks have already noticed this issue and Construction loans are harder to get.
Some price adjustment already underway and probably more to follow.
Long term outlook will of course be positive but now is probably not the best time to buy
90% of Target is underground – it’s weird, the top floor is just some clothes and a yogurt shop…but downstairs it’s a whole different world of its own.
The rent for a selling basement is only 25-33% of the rent for a ground level store. The top floor is little more than an entryway to get you to the basement, like the Barnes and Noble and BB&B above Whole Foods setup, but underground.
Can’t figure out why Target is so big but there’s not much there I want. All that hype when they first opened about how they were going to appeal to city dwellers, and sell smaller sizes of things, was just hype. They don’t have 1/2 pound regular butter, 8 oz. mayonnaise, 2-pound bags of flour; for people who don’t cook much but need small quantities of things like that. It’s being stocked by people with lots of storage space who are clueless about what city people need. Plus a lot is store-brand instead of major label.