Google looks to open first brick-and-mortar store in 8,000 sq. ft. SoHo space

“Retail experts say that deep-pocketed tech giant Google is near to signing a lease at 131 Greene St. for what would be its first brick-and-mortar store in the country,” Daniel Geiger reports for Crain’s New York Business. “Some say its arrival could put Greene Street on shoppers’ maps, just as the arrival of another tech titan did for a nearby Prince Street 13 years ago.”

“‘This could do for cobblestone Greene Street what the Apple store did for Prince,’ said Richard Hodos, a retail leasing broker at CBRE, referring to the Apple store on the corner of Prince and Greene streets that became a retail phenomenon in SoHo,” Geiger reports. “Already, the street’s status with well-heeled shoppers is stoking a run-up in rents and property prices. In just the past two years, average rents have doubled to more than $300 per square foot, several brokers said. In the one block that sits between Prince and Spring streets—the arteries that feed most of the street’s foot traffic—the jump in rents has been even more dramatic.”

“Those gains in turn are pushing up the prices of properties along the street. A case in point is 57-63 Greene St., whose 8,000-square-foot ground and basement retail space David Schechtman, a broker at Eastern Consolidated, sold two years ago to a partnership led by Thor Equities for $17.25 million. Recently, Mr. Schechtman said, he received unsolicited offers for the same space as high as four times that sum, a whopping $70 million,” Geiger reports. “According to sources, Google plans to open an 8,000-square-foot store at 131 Greene St., less than 200 feet below Houston Street.”

Read more in the full article here.

MacDailyNews Take: They all want to be Apple. Alas, they aren’t; not even close.

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  1. “My but what big security cameras you have! And oh my, what fast internet speeds you have. And oh, wait, why is my face showing up on Google’s home page? And why is my phone suddenly buzzing with advertisements?”

  2. Utterly ridiculous:

    This could do for cobblestone Greene Street what the Apple store did for Prince,’ said Richard Hodos, a retail leasing broker at CBRE.

    So what are you going to actually SELL at your brick and mortar store, Google? Glasshole enablement devices? And what else? Malware infested Android apps perhaps? Not practical.

    (Very secret hint: Apple had gear to sell when they opened their first brick and mortar Apple Store. You might to well to do something similar in that respect).

    Bizarrely inane. Well done, Richard Hodos, a retail leasing broker at CBRE, and Daniel Geiger who reports for Crain’s New York Business. Worthless surreal tech journalism at its finest.

    Meanwhile, IRL…

    1. But wait! They’re tech sector! They’ve got a higher stock price than Apple! They’re the darling of America! Fans and foes alike will line up outside their store and around the block awaiting the next Android release, right?!

      (Actually, if they want to drive people into their store they should announce that only on computers within the store can you delete your entire Google profile)

  3. Google recently admitted that while not showing ads to children in educational apps they still track and profile them for advertising outside.
    Why anyone would hardware made by google is beyond me. At least with window or osx you can’t provide some restrictions on googles snooping but android/chrome, not a chance

  4. “generate excitement” – what a joke! With what? And don’t the writers even know that the higher the income level, the more predominant is Apple. The well-healed are not going to get excited about Androcrap phones and cheapo Chromebooks.

  5. “According to sources, Google plans to open an 8,000-square-foot store at 131 Greene St., less than 200 feet below Houston Street.”

    And about 100 feet from the Apple store. Copy, copy copy….

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