NYC Economic Development Corporation
Larisa Ortiz Associates teamed with WXY Studio and Anat Gerstein Inc. to perform market and real estate analysis for the transitioning development of the New Essex Street Market (NESM). The Essex Street Market is one of New York City’s oldest public markets that will soon move to a new location close in proximity to the existing Essex Street Market and will continue to be operated by the City of New York.
The City sought to understand the market demand of the Essex Market as it transitions to its new space. In combination with its new location the NESM will offer more space and more vendors. LOA completed a market analysis and used the findings to develop descriptions of ideal retail offerings/mix, price point, and lifestyle and spending habits for each identified major customer segment. This guided the retail strategy efforts and reinforced strategic positioning of the Market.
LOA also assisted with the outreach phase which consisted of a focused press strategy guided by the market analysis and vendor and key stakeholder outreach, advising vendors/tenants on more targeted and precise promotions.