Market Update — NY Metro Retail Edition
Top Headlines — New York City
Coach Inks 13,000 SF Flagship Deal at 645 Fifth Avenue
Tapestry-owned fashion house Coach has signed a 13,000-square-foot retail lease at 645 Fifth Avenue, marking another marquee Fifth Avenue commitment as luxury brands continue to anchor the corridor. The deal underscores ongoing rent recovery on the world’s most expensive retail street.
Source: Commercial Observer — Fashion House Coach Inks 13K-SF Deal at 645 Fifth Avenue
SoHo Retail Rents Lead Manhattan at Decade-Long High
SoHo has reclaimed the top spot in Manhattan retail, with average asking rents pushing to a decade-long high. Madison Avenue, the Flatiron District, Fifth Avenue and the West Village all posted significant rent growth, reflecting a broad-based Manhattan retail rebound powered by experiential and quiet-luxury tenants.
Source: Commercial Observer — SoHo Retail Rents Hit Decade-Long High
CoStar Recognizes Top NYC Retail Leases of Q1 2026
CoStar’s quarterly tally of top retail leases highlights a healthy Manhattan market with substantial deal volume across Midtown, the Plaza District and Downtown submarkets. Tenant demand for high-visibility, brand-defining storefronts is reshaping the post-pandemic retail landscape.
Source: CoStar — Top Retail Leases Recognized for New York City
Top Headlines — Long Island
Hicksville $61M Cornerstone TOD Approved Near LIRR Hub
The Town of Oyster Bay’s Planning Advisory Board unanimously approved Cornerstone Hicksville, a $61 million transit-oriented development by Farmingdale-based Terwilliger & Bartone Properties. The two-acre site on Jerusalem Avenue will deliver 106 apartments (10% affordable) over 4,000 square feet of ground-floor retail, with underground parking for 200+ vehicles. Construction is slated to begin in early 2027 as part of the Downtown Hicksville Revitalization Initiative.
Source: Newsday — Hicksville mixed-use complex near LIRR hub wins key approval
Hamptons Retail Record: Water Mill Portfolio Trades for $39M
Two Water Mill commercial properties — Water Mill Square at 670 Montauk Highway and The Mill at 760 Montauk Highway — traded together for $39 million, the largest retail transaction in Hamptons history. LA-based Runyon Group acquired the combined ~50,000 SF portfolio, which represents 84% of the hamlet’s gross leasing area, from Vault Development Partners. HCRE’s Hal Zwick and Jeffrey Sztorc led the deal.
Source: Behind The Hedges — $39M Water Mill Retail Sale Marks Hamptons Record
Pathmark Returns to Long Island in East Meadow
The iconic supermarket banner has officially returned to Long Island, with the first re-launched Pathmark store opening in East Meadow, Nassau County. Allegiance Retail Services, which acquired the Pathmark brand in 2016 following A&P’s bankruptcy, is rolling out the nostalgic concept across the metro region — a notable bright spot for grocery-anchored real estate.
Source: Greater Long Island — Pathmark Returning to Long Island
Long Island Office Vacancies Fall as Workers Return
The latest market data shows Long Island’s commercial real estate sector is stabilizing, with office workers returning and local businesses benefiting from foot-traffic gains. The shift is positive read-through for adjacent retail nodes and mixed-use centers.
Source: News12 Long Island — Long Island Office Vacancies Fall
Top Headlines — Westchester County
Houlihan Lawrence Closes $2.1M Eastchester Retail Sale
Houlihan Lawrence Commercial facilitated the sale of a 3,200-square-foot retail building at 17–19 Mill Road in Eastchester for $2.1 million — a strong per-square-foot mark reflecting continued investor appetite for well-located Westchester storefronts.
Source: Houlihan Lawrence Commercial — Retail Sale Announcement
Annual Westchester Real Estate Conference Convenes in Harrison
The Westchester County Association hosted its Annual Westchester Real Estate Conference at the Westchester Country Club, gathering top developers, brokers and capital sources to discuss housing growth, infrastructure, and retail-mixed-use opportunities across the county.
Cross County Center, Yonkers: Experiential Park Underway
Construction has begun on a new four-acre park that will serve as the “front door” to Cross County Center in Yonkers — a marquee example of how legacy Westchester retail centers are being repositioned around experiential and lifestyle amenities to drive traffic and rents.
Source: Westfair — Westchester County Goes All In on the Experiential Economy
Top Headlines — Rockland County
Bronx West Rock Acquires Two Nanuet Retail Parcels for $2.175M
Bronx West Rock Fund II LLC acquired retail parcels at 23 College Avenue and 81 East Route 59 in Nanuet from the Marisco Family Trust for $2.175 million, financed with $1.2 million from Anthony Colangelo. The buyer (principal John Colangelo) has been steadily accumulating Route 59 retail, with prior acquisitions at 196–210 East Route 59 ($3M) and 148–164 East Route 59 ($6.2M).
Source: Rockland County Business Journal — What’s The Big Deal?
Nanuet Industrial Building Trades for $8M
31 Murray Hill Drive LLC sold a 33,000-SF Nanuet industrial property to Brooklyn-based Tiger HL Realty for $8 million, financed by a $6.4M Bank of America loan. The former UPS terminal now houses Lion HVAC Supplies. The seller had acquired the asset for just $4.15M in July 2025 — a roughly 93% mark-up in less than a year, reflecting hot infill industrial demand spilling into northern NJ/NY metro.
Source: Rockland County Business Journal
Rockland County Advances Affordable Housing Initiatives
Rockland County is pushing forward with new affordable housing development paired with a public awareness campaign. Coupled with the planned Sain Building senior-housing redevelopment in New City (Regan Development/Rockland selected), the activity points to growing residential rooftops that should support neighborhood retail demand.
Source: HGAR — Rockland County Advances Affordable Housing Efforts
Expanding Retailers Watch
Apna Bazar — South Asian Grocery Entering Suffolk County
After opening two New York stores in 2025 (Valley Stream and Coney Island), South Asian grocery chain Apna Bazar is launching its first Suffolk County location as part of a three-store 2026 expansion plan — a continuation of the ethnic-grocery growth story that’s helping fill former big-box footprints across the metro.
Planet Fitness — 30th Long Island Location Opens in Holbrook
Per the latest NY DOL Labor Market Briefing, Planet Fitness opened its 30th Long Island location in Holbrook, with additional openings recorded across Nassau and Suffolk earlier in 2026 — continuing fitness’ role as a key big-box backfill category.
Market & Economic Snapshot
Across the NY metro, retail fundamentals remain firm with three clear themes for Schuckman Realty’s footprint:
- Grocery-anchored remains king. Pathmark’s return, Apna Bazar’s Suffolk expansion and Kimco’s repositioning of The Gardens (formerly North Shore Mart) underscore institutional and operator confidence in necessity-based retail.
- Transit-oriented mixed-use is the development model. Hicksville’s $61M Cornerstone TOD joins the broader Long Island and Westchester pipeline of LIRR/Metro-North-adjacent projects layering ground-floor retail under residential density.
- Manhattan retail is firmly back. SoHo asking rents at a decade high, Coach taking 13K SF on Fifth Avenue, and active luxury leasing on Madison Avenue point to investor and tenant conviction in NYC’s premier corridors.
Rockland and Westchester continue to benefit from spillover capital and the affordability gap versus Long Island and Manhattan — visible in tight industrial pricing (Nanuet’s 93% one-year mark-up) and steady small-format retail trades (Eastchester at $656/SF).
Kickoff — Week of May 25, 2026
From the desk of Kenneth Schuckman
This week is shaping up as a New York metro story: TOD approvals on Long Island, record-setting Hamptons retail, $2M-plus retail trades up the Hudson, and Fifth Avenue luxury leasing all in one news cycle. The takeaway for our team and clients — grocery-anchored, transit-oriented and luxury-corridor retail are pulling capital from every direction. Let’s use the short week to surface deals that fit these tailwinds.