Urban Fold

Madison Avenue Changes its Attire

After several years of soul searching during the Great Recession, "conspicuous consumption has made a resounding return to Madison Avenue." But, as Eric Wilson discovered, a new Avenue has emerged.

With a former reputation as the "world's most insular shopping mall," the arrival of younger "downtown" brands and their customer to what "at its core, is a local shopping district" for one of the wealthiest neighborhoods in the world has been a shock, albeit a mostly welcome one, for the famous fashion street.

According to Wilson, "Nearly 50 stores have opened in the last 18 months, including a diverse mix of European luxury labels (Céline and Bottega Veneta), contemporary brands (Vince, Zadig & Voltaire, Rebecca Taylor, Alice + Olivia, Theory and Rag & Bone) and hipper American designers (Proenza Schouler and, coming soon, Monique Lhuillier)."

When the recession struck, rents on the avenue dropped to between $600-$800 a square foot and dozens of vacancies opened. After only three years, "landlords once again are asking (asking, mind you) for rents of $1,500 a square foot, higher than before the recession," notes Wilson.  

Full Story: Downtown Comes Uptown

Comments

Build Your Own Paper Block City

Urban Fold is an all-inclusive kit that allows anyone to build the city of their dreams with a few simple folds.
$24.95
building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25

Stay thirsty, urbanists

These sturdy water bottles are eco-friendly and perfect for urbanists on the go.
$19.00
Book cover of Where Things Are from Near to Far

Where Things Are From Near to Far

This engaging children's book about planning illustrates that "every building has its place."
$19.95