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Downtown Retail Opportunity Calls

NEW YORK CITY-Lower Manhattan’s 24/7 population, up 14% in three years, has more buying power than shopping options, says the area’s BID.

By Paul Bubny | Updated on June 08, 2010

NEW YORK CITY-Whatever the next few years hold in store for the commercial office sector in Lower Manhattan, the area’s prospects as a residential neighborhood look bright. That in turn bodes well for retailers looking to open their doors south of Chambers Street, the Alliance for Downtown New York says in a new study.

Families in particular say they’d like to see additional retail services including daycare, restaurants and more stores. “While the survey shows that residents are satisfied with the quality of life in Lower Manhattan, it also indicates a significant market for additional retail options,” Elizabeth Berger, president of the Downtown Alliance, which serves as the BID for Lower Manhattan, says in a release.

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