Cuozzo: Will Printemps the fashion, restaurant hybrid store lift FiDis fortunes?

The new Printemps fashion store, which opened at Harry Macklowe’s One Wall Street on Friday, “might well be the most beautiful store in New York,” said Downtown Alliance president Jessica Lappin.“Macklowe could not have done it better,” agreed Cushman & Wakefield retail power-broker Joanne Podell, who repped Chinese lifestyle chain Miniso at nearby 150 Broadway.“It will draw the right foot traffic and other [retailers] will want to be near them,” she said.But will the 55,000 square-foot emporium with five restaurants lift more boats in the area’s roiling retail waters?RIPCO Real Estate principal Andrew Mandell, who’s marketing a 7,000 square-foot former bank storefront across the street at 71 Broadway, said, “I think it’s early to determine, but it’s already helped our leasing effort.We’re in active negotiations.”While the World Trade Center and Brookfield Place shopping complexes are near fully-leased, it’s a different story elsewhere.

Broadway south of Chambers Street has many large vacancies.  So do Fulton, Nassau, Pine and other streets that have mostly small buildings suited mainly to fast food and discounters.Even Wall Street has many “For Lease” signs despite the prestigious presence of Tiffany.CBRE vice president Jordan Kaplan said Broadway “was adversely affected by the influx of major retail projects at Brookfield Place, the Oculus and the Seaport,” which drew the most desirable stores.But he said Printemps and Brooks Brothers, the latter coming soon to 195 Broadway, “have already brought the focus and attention back to Broadway.“I’m very bullish long-term on many retailers continuing this trend.”Retail brokers were optimistic about a Printemps spillover effect.

Most upbeat was JLL’s managing director for New York retail, Corey Zolcinski, who said, “We don’t think it will be long before more big names and emerging concepts follow Printemps to the neighborhood.”He said that although “reta...