Victoria’s Secret And Bath & Body Works To Open On 125th Street

Major retailers are heading uptown as residential buyers seize on cheaper home prices compared to rest of Manhattan.

By Jeff Vasishta April 12, 2017
Editorial credit: Jasni /

While many newspapers are filled with stories of a national retail meltdown, in New York, the angels are smiling on Harlem as Victoria’s Secret and Bath & Body Works open their first stores in the neighborhood.

The location is in a new building, currently under construction at 112 W. 125th Street, next door to Whole Foods.

“It’s one of the uses lacking in Harlem and this is a good fit, because its well-known and addresses all the price points,” said Faith Hope Consolo of Douglas Elliman. “It’s exciting and game-changer for Harlem. No matter what, people buy lipstick and body products.”

Related: Downtown Brooklyn’s Fulton Street Takes Top Spot As Borough’s New Retail King

According to CoStar, the asking rent for the ground floor was $250 per square foot, with occupancy planned for the fall of 2017.

Although Victoria’s Secret is well represented in New York, particularly downtown, the Harlem location points to the rapid gentrification in the area and the sizzling real estate market in Upper Manhattan, which is currently outstripping all other boroughs.

Despite the new Harlem store opening, however, business has hardly been angelic for the sexy lingerie company. They, along with Bath & Body Works, are a part of parent company L Brands, whose stock plummeted in the first quarter of 2017. B&BW managed to stem the bleeding that was gushing from V.S. but now even that company has seen stocks falls. The reason for the V.S. drop of is seen because of competition from sports bras and swimwear, which V.S. discontinued in its own stores due to a lack of growth.

Related: Amazon To Open A Physical Bookstore In Manhattan’s Columbus Circle

However, L Brand’s move to Harlem is in line with other national retailers which have headed uptown to service the increasingly wealthier residential population. Of course, in New York wealth is relative. In some other parts of the country, a house costing around $600,000 would be considered outrageously expensive. In New York, it’s a steal and a price well worth paying to still be in the borough of Manhattan. Thus, the deluge of new condos that are arriving on the market. In Upper Manhattan, the median price for a property is $680,000, half the price of its southerly neighbor. This disparity has seen sales rocket by 21 percent from the previous year.

“In many ways, Northern Manhattan is mirroring what’s happening nationally with rising sales, not enough inventory and a fast-moving market,” said Jonathan Miller, author of the Elliman report on Upper Manhattan. The question on every one’s lips is how long will it last?

Jeff Vasishta



Jeff is a writer, husband and father but not necessarily in that order. As a music journalist he counts Prince, Beyonce and Quincy Jones amongst those he’s interviewed. He's also owned and flipped homes in Brooklyn, NJ, CT and PA.

    Avocado toasts are the reason why millennials can’t afford a home, says one Australian real estate developer. #AvocadoToast #Millennials
    Five years on since Superstorm Sandy, Queens’ coastal peninsula is in the midst of a development boom. #Development #Rockaways
    It turns out, renters can’t get enough of good ol’ no-doorman-no-frills apartments. Too bad developers aren’t building any. #Doorman #LuxuryRentals
The Housing Market In Shenzhen, The Silicon Valley of China, Slows In 2017
The city of Shenzhen has been on the real estate radar for quite some time. It is known as the Silicon Valley of China. Many…
Developers Jump Aboard The Trend To Revamp Transit Hubs And Remake Cities
Never has the often used marketing term, “close to transportation” been more important when attracting home buyers. These days it’s not just homes that are…
Millennials Are Fueling The Current Sizzling Real Estate Market
Ever wondered why the hosts of home improvement shows seem to be getting progressively younger, along with the fresh-faced couples getting their new properties made…
The Best Cities For Recent Grads To Rent – Without Blowing Their Entire Paycheck
What’s next post graduation? For most, the logical answer is to find a job. After the excitement of finishing your studies and the big celebration,…
Luxury Knows No Limit In Malaysia As A Deluge Of New Developments Hit The Market
The amount of newly constructed high-end real estate in Malaysia is almost as abundant as the lush vegetation which covers the tropical landscape. Despite vacant…
Don’t Call It A Commune – Upscale Co-Living Is Attracting Major Development
What may have once been referred to as a commune is today termed a co-living space. The big news that it’s not hippies with hemp…
It’s Official—New York Is Now The Most Expensive City In The World To Build
As if you didn’t already know, it’s expensive to build in New York City. Not just expensive but now officially the most expensive place in…
An Ultimate Destination For The Most Comprehensive Real Estate Data, Agorafy Prepares To Launch Nationwide
In the coming days, Agorafy will be entering a new chapter. It is the beginning of a new growth cycle in real estate technology with…

TOP 10