Faith Hope Holds Harlem in the Palm of Her Hand

Posted on May 3, 2008 by


Faith Hope Consolo: Chairwoman for retail real estate at Prudential Douglas Elliman

I’m working on a new portfolio now that was just handed to me: 15 buildings and 75 stores, all over Harlem. These are existing buildings in renovation, and we’re putting in better shops and services.

What people don’t know about Harlem is that certain areas have great demographics, great untapped spending. They want better restaurants, better food markets, just better everything. They say: “Faith, bring us a better tailor, bring us a better food market. Just bring us the same as they have in Midtown.”

It’s going to be a resurgence of mom-and-pop stores, but a better version. I’m going to go into every residential neighborhood, and I’m going to canvass great-looking retailers who are the butcher, the baker, the great dry cleaner, the great card store. And some very good restaurants. I’m already talking to Danny Meyer about going there with a cafe. And I’m working on several different high-profile national and international designers. One of my retailers makes fragrances named after neighborhoods, like Chelsea and Wall Street and whatever. She wants to be there, so I told her to create a fragrance that’s called “Harlem.” And she did.

I can’t tell you who the landlord is. They told me they’re afraid of the Harlem Chamber of Commerce. You know, Old Harlem hates New Harlem. But I understand. I go to the community meetings, I went to the chamber, and I listen to them.

Old Harlem, they think that New Harlem just brings money and no culture. They consider themselves very immersed in culture. They do have a lot of beautiful buildings, they have a lot of history. Not more history than other parts of the city, but you have to treat them that way.

Read the rest of the article: NYTimes.com

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Posted in: Real Estate