Halstead Property

William S. Ross
Director of Development Marketing
wross@halstead.com
(212) 613-2001

Dumbo No White Elephant

DUMBO retail is flourishing as more residents move into new and converted buildings while visitors find the new home furnishings stores irresistible.

West Elm and Bo Concepts have located side by side and are “really complimentary,” said Jed Walentas of Two Trees Development, the area’s largest property owner.

Other new and upcoming tenants include:

Zoe at 70 Washington Street which is the brainchild of a New Jersey woman who has another store in Princeton. “She has great stuff — it’s like a Barney’s Co-op,” said Walentas.

Added William Ross, executive director of sales for Halstead Property who handles various transactions in the area, “Zoe’s amazing and has a created a beautiful place. It’s a demonstration that this kind of newer, hipper venues are coming to Dumbo.”

The Powerhouse book store at 37 Main Street, which has its own books along with a visual arts gallery space.

“It is an unbelievably good aesthetic,” said Walentas.

He is currently negotiating with Galapagos from Williamsburg to create a performance space and bar in the former stable at 16 Main Street across from the Clock Tower building. “It is theatre and comedy on a local grassroots level,” said

Walentas. “They will be a good neighbor and bring a blend of activities with artistic overtones.” Walentas says retail rents in DUMBO now range from $40 to $50 a foot, depending on size and location.

“This is all a major change from the retail when the Clock Tower first opened and there was only a pizza parlor,” recalls Ross.

Lois Weiss

Tuesday, January 16, 2001