starbucks

Celebrities, Greenwich Village, Recent Sales

It’s safe to say this $40 million penthouse is of the “venti” size, considering it’s the priciest unit in new mega-development the Greenwich Lane and, at $7,159/square foot, one of the most expensive residential sales in Greenwich Village to date. Though The Real Deal reports that the buyer is Starbucks CEO Howard Schultz, whose estimated $3 billion net worth makes this a drop in the bucket. The 5,587-square-foot duplex spans the 16th and 17th floors and boasts floor-to-ceiling windows with skyline views and more than 1,600 square feet of private outdoor space.

Read more

City Living, Polls

61 Ninth Avenue, Rafael Vinoly, Starbucks Reserve, Meatpacking District development

It was announced yesterday that Starbucks is opening its largest store in the world in the base of Rafael Viñoly’s forthcoming Meatpacking District building at 61 Ninth Avenue. The 20,000-square-foot facility will be a Roastery-branded store, “part of a push to bolster growth with larger locations that offer experiences to customers,” reports Crain’s. The decision may be due to the fact that Starbucks is facing increased competition from regional and local coffee shops, many of which roast their own beans or include information about bean origin. But it looks like the chain store‘s growth isn’t slowing; thanks in part to its rewards program, Starbucks’ stock rose 27 percent over the past year. The new mega-store won’t open until 2018, which gives New Yorkers a couple years to figure out their java preferences — big-name corporation or local cafe?

Images: Rendering of 61 Ninth Avenue by Rafael Vinoly Architects (top); Park Row via photopin cc (L); Cafe Grumpy via Refinery Hotel (R)

Architecture, Meatpacking District, New Developments, Starchitecture

61 Ninth Avenue, Rafael Vinoly, Starbucks Reserve, Meatpacking District development

News broke back in May that a low-rise Rafael Viñoly-designed building was coming to the former site of Prince Lumber at 61 Ninth Avenue in the Meatpacking District. Until now, no design details have emerged for the nine-story office and retail building, but 6sqft has uncovered Viñoly’s renderings, which show a stacked cube design with many terraces along its asymmetrical glass facade.

The address also made headlines today because its base will hold the largest Starbucks store in the world. The 20,000-square-foot facility known as the Starbucks Reserve Roastery and Tasting Room will be “part of a push to bolster growth with larger locations that offer experiences to customers,” reports Crain’s.

See more

real estate trends

starbucks nyc

© park row via photopin cc

You know rent is too damn high when mega chains like Starbucks start looking for cheaper spaces. The Commercial Observer reports that the city’s rising rents are actually driving the coffee giant to less popular side streets as many of the leases inked for stores opened up some 15–20 years ago are coming up for renewal. Starbucks is currently paying just a fraction of what the market is demanding on a chunk of their more than 200 Manhattan locales, and they could soon see an end to several of their most popular shops.

FInd out more

SIGN UP FOR OUR NEWSLETTERS

Thank you, your sign-up request was successful!
This email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.