Even though commercial space is being offered for only $31 per square-foot in Lower Manhattan--far below Midtown's $59 average--takers are few and far between. No matter, because the Times reports that the area is going through "a quiet residential revolution," with thousands of new tenants flooding the area and forcing the conversion of office space into apartments. And if you?re bored by the numbers, here?s some additional proof of downtown?s housing boom that fits seamlessly into the week?s edible theme:
In perhaps the most telling sign yet for the area, Whole Foods has signed a lease on Warren Street, proving that wherever luxury co-op owners ultimately choose to reside, Medjool dates and organic tomatoes will follow.We're one Trader Joe's rumor away from confirming this as the hot new nabe, but don't pack up that $700 stroller and head south just yet: Team Bloomberg wants more corporations, less cohabitations--and they'll dole out incentives until they get it.
· Residential Tenants Rush in as Businesses Are Cool to Lower Manhattan [NYTimes]