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Fifth Avenue storefronts are irreplaceable. There are only so many of them. That's the definition of scarcity.
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Brands need to be seen. A storefront on Fifth Avenue is the most expensive billboard in the world — and it works.
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I started in Brooklyn buying storefronts that national chains needed. Same logic, different zip code.
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Location is everything. The right 20 feet of storefront in the right block is worth more than an entire building in the wrong one.
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I'll wait years for a single lease. Patience in acquisition beats speed every time.
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COVID was devastating for Manhattan retail. But prime locations always recover. Always.