Click for 66 pages of Filing and Reports about this Project
Even before this new development the Hub was transcending the 99-cent store scene with a shopping experience to rival Fordham Rd. Here are some stats (and an article) provided by the NY Daily News:
Checkout: The Hub
- 122 stores in the Business Improvement District.
- 1928 Alexander's opened a store that year on Third Ave., the department-store chain's first. Discounter Conway now owns and occupies the building.
- 40% decrease in crime in the past decade.
- $85-$125 per square foot asking rents for prime store locations.
- $56.7M retail and office building constructed by Related Cos. on Third Ave. and E. 156th St.
- 80,000 square feet of store space in Related's Third Ave. development.
- 250+ employees work at the stores in Related's Third Ave. building.
- $30 per square foot was the highest rent landlords could get on Third Ave. north of E. 153rd St. before Related's project was completed. Since it opened last year, retail landlords in the area are now asking up to $70 per square foot.