Recession and hard-economic-times have become an important part of our lexicon this season. And those possessing fractional jet ownership and Black Cards have been as hard hit as those living on First Avenue. This economic fallout has much more impact than clothing discounts.
Unfortunately, the end is not as near as some would hope. We recently received a book of available or soon-to-be available Madison Avenue retail properties. The list is staggeringly long. Last year at this time there were hardly 25 available spaces along Madison. Now the list seems endless.
We thought it might be interesting to publish excerpts of this confidential real estate log. After all, we are informants and we do specialize in Madison Avenue.
Most interesting, to us at least, is the fact that Michael Kors is moving into Gucci's space but nobody seems to have information about Gucci's relocation. 'Tis the season of cutting back. Maybe Fifth Avenue is proving to be all Manhattan needs of the double-Gs.
Click on the image below to get a peak into the future of our local topography.