The District's Consumer
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ABOUT THE DISTRICT Welcome Located on the far west side of Manhattan, this 24-hour neighborhood is bordered by Chelsea to the north and the West Village to the south. Deeply engaging and immersive consumer facing storefronts are moving in alongside traditional retail, creating an unparalleled street-level retail environment. By offering visitors an interactive and layered shopping experience, the district is fast becoming the most dynamic and talked about destination in New York City. 02 MEATPACKING DISTRICT DEMOGRAPHICS 2018 17 NEIGHBORHOOD FACTS + FIGURES Overview 94 Block Faces 268 Ground-floor Business MAJOR ATTRACTIONS 1054 Hotel rooms w 1 W 18th St. 2 The High Line 2 Food Halls 0th w W 17th St. 2 Whitney Museum of American Art 2 . e 2 Cultural Institutions v 3 th A Chelsea Market n 3 Public Spaces 13 e T W 19th St. 23 76 NOTABLE HQS 52 9 8 44 4 45 10 W 20th St. 4 6 Google 5 W 16th St. 25 34 15 5 Palantir . 13 y . 69 e 1 e 15 12 4 62 20 67 v v 27 19 A 6 Delos A 8 53 24 39 46 th th 5 65 W 19thn St. n 3 63 72 28 Ni e 8 14 64 W 17th St. v 54 7 LiveNation 22 11 7 W 17th St. e W 15th St. 68 6 est Side Hw 18 57 1 El . 32 49 W 7 e 25 37 51 8 Milk 4 v 36 44 29 th A 7 2 n e 9 Moët Hennessy T 16 2 W 18th St. 1 W 16th60 St. 27 1 15 W 16th St. 10 Samsung 837 17 W 17th St. e 12 v 2 52 A 11 Theory 31 th 9 20 39 7 n 43 e 24 W 14th St. T 12 DVF 1354 W 19th St. 55 41 4 47 23 29 4 48 6 33 W 15th St. 13 Rag + Bone 73 42 49 20 W 15th St. 13 28 8 76 45 52 22 79 8 14 Giphy 9 11 35 44 4 21 4 11 71 2 8 50 ashingtonW 13th St. St. 45 5 10 16 3 W 1 . 74 31 10 6 W 13th St. 26 W 16the St. 50 10 6 40v 53 20 5 A 9 70 18 41 5 25 34 th OPEN SPACE 43 15 W 14th St. 13 Nin e 6 14 5 69 Wv 14th St. W 15th St. 13 Hudson St. 1 12 4 62 20 67 W 15th St. 14 19 Hudson St. 27 77 th A 8 53 24 46 63 Little W 12th St. 39 . 15 14th Street Park 32 48 66 Nin 65 58 Little W 12th St. 5 63 e 72 14 28 W 17th St.v 51 W 15th St. 64 54 A 5 5 22 7 2 11 68 6 th 16 62 60 . 18 57 Seravalli Playground e 49 1 h v 55 3 32 7 3 25 51 4 37 21 Eig 23 th A 17 36 44 29 7 17 Hudson River Park n W 13th2 St. 56 e W 13th St. 14 T 64 . 7 t 58 16 75 14 78 8 S 38 19 8 6 18 Jackson Square Park 2 10 1 34 59 3 3 1 36 2 60 n 19 57 W 16th St. o 27 W15 14th St. Gansevt oort St. 4 37 1 W 14th St. g Gansevoo17 rt St. 19 n 12 Gansevoort Plazas (coming soon) 26 i 56 46 61 30 47 h . 52 t s 12 2 12 . 21 S a t 42 31 30 20 S 20 W 14th St. h Chelsea Triangle (coming soon) W 9 11 39 7 t 59 h 43 24 4 t 16 54 4 38 55 41 W 40 13 61 9 W 47 29 4 48 618 33 W 15th St. Ho73 ratio St. 42 49 Horatio St. TRANSPORTATION Horatio. St. 28 Horatio St. 8 t . 35 S 45 t 22 79 S 9 h 35 11 c W 13th St. i h 21 4 2 c W 13th St. w 11 71 i 9 . 8 50 W 13th St. 5 e 3 n 16 1 w v 20 A/C/E line e 74 31 n A 26 50 e e . Jane St. r 10 6 40 e53Jane St. e th v 9 Jane St.G 18 r n Jane St. 70 Hudson St. 41 21 L train stop 5 G Hudson St. th A Ni 43 3 h W 14th St. 5 Eig W 15th St. 13 Hudson St. 11 14 77 . 03 W 12th St.63 W 12th St. e Little W 12th St. 48 66 v 58 W 12th St.32 W 12th St. 51 th A 2 5 h 62 60 55 3 Eig 3 23 17 W 13th7 St. t 35 S h c W 13th St. i w 9 n e e. e v Jane St. r Jane St. G Hudson St. th A h Eig 3 VISITATION 11 W 12th St. W 12th St. Tourism Major Attractions Hotel Guests h ANNUAL VISITORS PEAK TIMES High Line 6 mil Weekend REASON FOR STAY BUSINESS Whitney Museum of American Art 1.15 mil Friday nights and Saturday Chelsea Market 9 mil Weekend 11-3pm 41% LEISURE Hotels 59% NAME NUMBER OF ROOMS Dream Downtown 314 DOMESTIC INTERNATIONAL Gansevoort 186 61% 39% Liberty Inn 20 Soho House 44 KEY MARKETS US AVG. LENGTH OF STAY UK Maritime Hotel 126 Canada The Standard 338 France Germany Chelsea Pines Inn 26 Italy Australia TOTAL 1054 Brazil 3 Scandinavia Days 04 MEATPACKING DISTRICT DEMOGRAPHICS 2018 COMMERCIAL MIX Who’s Here Upper-level Tenant Spotlight Occupied vs. Available Space Square Feet in Millions Occupied SF Available SF HQs WITH FLAGSHIP LOCATIONS IT FIRMS INCOMING OFFICE TENANTS 6,5 Theory Google Alibaba Diane von Furstenberg Palantir SoFi 6,0 0,31 Alice + Olivia MLB.com LG Capital Partners Rag + Bone Giphy Samsung Dots Baker Bros 5,5 Helmut Lang Delos 0,07 0,05 0,12 0,15 Lilla P 0,24 Bumble and bumble. 5,32 5,15 5,34 5,36 5,33 5,94 5,0 The One Group / STK 2012 2013 2014 2015 2016 YTD 2017 Catch Hospitality Group Source: CBRE Research Ground-floor Retail Average Asking Rent vs. Vacancy Rate Average Asking Rent ($PSF) Availability Rate % BUSINESS COMPOSITION BUSINESSES: * $160 $149.80 $148.52 10% Food + Drink 39% $127.34 268 $122.38 8% Shop 37% $120 NEW + INCOMING 6% Wellness 8% $77.00 Restoration Hardware $80 $70.85 $59.24 Tesla Community 7% 4% Starbucks Roastery 3.6% 2.9% Hermès Arts + Culture 5% $40 2.5% Intersect by Lexus 2% 1.3% Hyundai Genesis Hotels 4% 1.0% $0 0.1% 0.0% 0% 2012 2013 2014 2015 2016 2017 Q2 2018 * Includes vacant storefronts Vacant space is defined as existing space being actively marketed for immediate occupancy as of the survey date. Projects under construction and future availabilities are not included in the vacancy rate. Source: JLL 05 MEATPACKING DISTRICT DEMOGRAPHICS 2018 NOTABLE TRANSACTIONS Retail Hybrid BRAND TREND INSIGHT TOTAL FT ASKING RENT PER SQ. FT. ADDRESS LEASE TERM OPENING DATE OWNERS Hermès “Represents a new retail concept with new 10,000 $600 on the ground floor 46- 48 Gansevoort St 10 year Spring 2019 Aurora Capital Associates and technology features and a casual vibe that and $150 on the second Willliam Gottlieb Real Estate matches the neighborhood’s younger, tech-obsessed residents.” — WWD Starbucks “Showcases the craft of roasting and brewing 20,000 $650 on the ground floor 61 Ninth Ave at the More than Fall 2018 Vornado Reality Trust and Roastery coffee, featuring coffees from around the and $150 on the lower level corner of W 15th St 15 years Aurora Capital Associates world, and be a place for customers to learn about coffee in the same way they’d learn about wine at a vintner.” — Fortune Tesla “Integrates the (solar and electric vehicle) 7,800 $600 on the ground floor and 860 Washington St N/A Opened Cushman & Wakefield businesses, positioning itself as an energy— $150 to $200 on top floors Dec 2017 not strictly a car—company; this new New York store is the physical manifestation of that.” — The Economic Times Restoration “Serves as the brand's New York City flagship 60,000 N/A 9-19 Ninth Avenue 15 year Fall 2018 Aurora Capital Associates and Hardware store [and to] establish itself amongst William Gottlieb Real Estate Meatpacking's already existing attractions, which include the High Line park, The Whitney Museum of American Art..” — ElleDecor RH Guest “Houses a restaurant on the ground floor and 25,000 N/A 55 Gansevoort St N/A Spring 2019 Aurora Capital Associates and House serves as an interactive showroom, allowing William Gottlieb Real Estate guests to live with and experience the company's products during their visit.” — ElleDecor Intersect “Caters to individuals looking to be inspired 16,500 N/A 412 W14th St N/A Summer 2018 Thor Equities By Lexus by fashion, art, food, music and technology.” — Crain’s NY Source: The Real Deal 06 MEATPACKING DISTRICT DEMOGRAPHICS 2018 THE DISTRICT’S CONSUMER Preferences + Habits Coffee Culture Selfcare WiFi/Mobile Usage AVG. COST OF BEVERAGE AVG. COST OF SERVICE TOP OPERATING SYSTEMS BY USAGE iOS Think Coffee $3.06 Gina Le Salon (wash + cut) $87 74% Jack’s Stir Brew $3.28 K + S Salon (wash + cut) $98 Kobrick Coffee $3.38 Allure (wash + cut) $125 Android Ninth Street Expresso $3.50 Martial Vivot (wash + cut) $125 16% Terremoto Coffee $3.50 O+M Salon (wash + cut) $153 Bumble (wash + cut) $170 Blue Bottle Coffee $3.58 Mac OS X ORLO Salon (wash + cut) $508 Chalait $3.79 4% Glam + Go (blowout) $35 Kava Coffee $4.33 Dry Bar (blowout) $45 Fellow Barber (cut) $60 Equinox (massage) $146 Exhale (massage) $150 Source: Meatpacking BID April 2017 WiFi Report Fitness Studios Digital Neighborhood Usage AVG.