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Garment District at a Glance
The average cost per square foot per year in Garment District
The Garment District is also known as the Fashion District or the Fashion Center. This neighborhood is home to the majority of New York’s showrooms and to a large amount of major fashion labels. Arguably the fashion capital of the United States and the world, the industry here generates over $14 billion in annual sales. Subsequently, this neighborhood is one of the more famous areas within Manhattan. The Fashion District covers one square mile and is all-inclusive and caters to every aspect of the fashion process, from design and production to wholesale selling. No other city on the world has a comparable concentration of fashion businesses and talent in a single district.
There are a number of major fashion labels that operate showrooms within the Garment District - these include Carolina Herrera, Oscar de la Renta, Calvin Klein, Donna Karan, Liz Claiborne, Nicole Miller, and Andrew Marc. Although the Garment District was historically known as the center for textile manufacturing, foreign competition has driven down the amount of production that takes place in the neighborhood. The focus has instead shifted towards sales and promotion of products. The decline, however, still has had a negative effect on the District as a whole and is an issue that is still being revisited by policy-makers, fashion industry representatives, manufacturing and union representatives, and property owners. Still, although the Garment Industry doesn’t have as much luster as it did in the past, there are a number of organizations that are working to restore and maintain its economic vitality. One such organization is the Fashion Center Business Improvement District, or simply the Fashion Center BID. This organization works towards improving the economic vitality of the area by promoting it as an attractive location for all kind of businesses, non-fashion included.
In terms of office space for lease, this neighborhood is advantageous for a number of reasons. For one, companies are able to take advantage of the large amount of tourists and traffic commuting through the area. This is aided by the large number of transportation options prevalent throughout the area. The Garment District is within walking distance of Pennsylvania Station and Grand Central Terminal, providing access to NJ Transit, Amtrak, the Long Island Railroad (LIRR), and Metro North Rail services, as well as a number of MTA subway stations.
Furthermore, the area is a booming part of Manhattan that generates a large amount of revenue. As a result, the Garment District becomes a terrific area to explore while on a lunch break or day off. The Fashion Walk of Fame is a particular landmark that pays homage to New York’s most influential designers. It is also the only memorial in the world that is dedicated to Fashion. The Fashion District operates like an ecosystem in which the different businesses help each other sustain high traffic through the introduction of variety. More options in fashion attracts more consumers. As a result this particular neighborhood is very tightly knit, with the Garment District Alliance helping to improve the quality of life and economic vitality by sustaining, promoting, and growing its member businesses. This creates a significant positive for firms looking for outside support, or for firms looking to place their business in a supportive environment. Subsequently, joining this ecosystem by placing your business in the heart of the Fashion District is a great idea for growing firms, especially those in the fashion industry.
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