Insights by Richard Skulnik, Vice Chairman
With more than two decades of retail leasing experience in the SoHo retail market, RIPCO Manhattan Vice Chairman Richard Skulnik shares his perspective on current trends and the future of SoHo retail.
How is SoHo’s Retail Market Performing in 2026?
The SoHo retail market is exhibiting exceptional strength, defined by tight inventory, strong pricing, and sustained tenant demand. Retail occupancy has reached approximately 84%, exceeding pre-pandemic levels and reinforcing SoHo’s position as one of Manhattan’s most competitive retail submarkets.
SoHo Core Consumers
- Millennials and Gen Z (ages 25–44) with strong discretionary spending power
- Highly experience-driven: store design, atmosphere, and “Instagram-ability” matter as much as the merchandise
- Values-oriented consumers who prioritize sustainability and authenticity
Traffic Patterns
- Weekends: heavy tourist traffic, both domestic and international
- Weekdays: locals, tri-state shoppers, and daytime population
Top Retail Trends Shaping SoHo NYC in 2026
- Experiential Retail
Brands are prioritizing immersive formats that go beyond traditional merchandising. Examples include Princess Polly’s multi-level flagship with permanent photo installations and Buck Mason’s integration of its Fast Times coffee concept. - International Entry
SoHo continues to be the preferred U.S. launch point for overseas brands, including TOTEME (Sweden), Rohe (Amsterdam), Galia Lahav (Israel), and Thuma (first NYC location). - Lifestyle & Wellness Expansion
Growth across health, wellness, fitness, and beauty categories reflects a broadening definition of retail demand.
Recent Retail Lease Signings and Store Openings in SoHo
- Buck Mason – Largest retail flagship opening
- Crocs – “Icon” store, 543 Broadway
- Madewell – Relocation to 6,500 SF flagship, 565 Broadway
- IKEA – Acquisition of Nike’s flagship at 529 Broadway
- Lululemon – 17,000 SF flagship, opened Holiday 2025
- Jacques Marie Mage – first NYC boutique on Wooster Street
From Pop-up to Permanent
In SoHo, brands are increasingly using pop-ups as a strategic entry point, leveraging the neighborhood’s high foot traffic and trendsetting consumer base to test concept, pricing and demand. As performance validates the market, many are transitioning to permanent flagship locations.
Los Angeles Apparel turned its SoHo pop-up into a permanent 24,687 SF flagship at 480 Broadway, signing a 10 year lease.
Best Streets for Retail in SoHo: A Guide to Key Corridors
- Tier 1 – Highest Footfall
Broadway (Houston to Canal): Highest foot traffic and flagship concentration
Broadway & Prince: Epicenter of pedestrian activity - Tier 2 – Premium Secondary
Prince Street and Spring Street: (between Broadway and West Broadway) strong lifestyle and luxury brands
Crosby Street: Emerging strength in destination retail - Tier 3 – Luxury and Contemporary
Mercer Street: attractive to boutiques and design-focused brands
Greene Street: the most desirable big name luxury corridor
Wooster Street: destination based luxury and furniture
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The Blocks to Watch
As availability tightens on Spring and Prince Streets, tenants are increasingly targeting Greene and Wooster Streets as viable alternatives that preserve SoHo identity with relatively lower rent thresholds. West Broadway continues to support galleries and select high-end retail.
Which Retailers are Moving Out?
- REI – 35,000 SF Puck Building location closing in 2026
- Off-White – Flagship closure after an eight-year tenancy
Who are SoHo’s Major Retail Tenants?
- Luxury Fashion: Chanel, Louis Vuitton, Prada, Gucci, Stella McCartney
- Athletic / Performance: Nike, Lululemon, Adidas Originals
- Contemporary / Fast Fashion: Uniqlo, Zara, H&M, Madewell
- Emerging Brands: Buck Mason, Princess Polly, TOTEME, Thuma
- Experiential: Sloomoo Institute, Museum of Ice Cream
What Categories are Growing?
- High-end wellness, beauty, and spa concepts
- Food & beverage with integrated retail
- Home furnishings and design (notably Crosby Street)
- Experiential and entertainment-driven retail
- International brands seeking U.S. market entry
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