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Real Estate Experts Say the Food Hall Gold Rush Is Over

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Plus, a profile on Daniel Humm — and more intel

Urbanspace at 570 Lex Photo by Alex Staniloff

Food halls could finally start slowing down

A Cushman & Wakefield report covered by the Commercial Observer points to a potential slowdown ahead for food halls, whose surge in NYC — and nationwide — has yet to abate. They’ve proliferated across the country, going from 120 locations in 2016 to an anticipated 450 by 2020, per the report. Landlords and restaurateurs have fueled the boom, with retail stores like Sears and Barneys closing their doors, and food halls able to take over their huge spaces. Closures have been few so far — but more are likely ahead, the report warns.

One retail consultant told the Commercial Observer that real estate developers are starting to realize a food hall is “not a solution to every cold, dark retail space that has gone out.” Location still matters — and so do good design and planning. Another expert pointed to a kerfuffle at the Time Out Market in Dumbo, Brooklyn: There, when a single walk-in fridge used by all 20 food vendors failed a health department inspection, the whole operation was forced to close temporarily.

Still, local food hall growth continues apace: A fourth location of food hall chain Urbanspace is opening next month, and a forthcoming Midtown food hall starring Korean food was announced last month.

Daniel Humm is good, thanks

After parting ways professionally from longtime Eleven Madison Park business partner Will Guidara, Daniel Humm tells the Wall Street Journal that he’s cool and things are chill and he’s going to London, where he’ll launch a solo restaurant, Davies and Brook. “‘With Will, he says, ‘maybe it would be more interesting if there was some kind of scandal, but there’s not.’” Humm also says that his reported girlfriend Laurene Powell Jobs isn’t an investor in the new business.

In other news

— Is it time to raise the 5-cent deposit on cans, with the livelihood of “canners” in mind?

— Chicken take out standby Dirty Bird has been closed for about a week on Chambers Street. A sign on the door says it’s temporary, but it hasn’t yet reopened.

— Ten-year-old Bowery sandwich place Cheeky’s has ducked around the corner, moving into a cramped space at 36 Allen Street, at least for the time being

— Another branch of fast-casual chain Mighty Bowl is up and running with pan Asian-inspired fare on the Upper West Side.

— A Brooklyn City Council member plans to introduce a bill to regulate commercial rents, responding to an increase in real estate vacancies.

— Makes you think:

Time Out Market

55 Water St, Brooklyn, NY 11201 Visit Website

Eleven Madison Park

11 Madison Avenue, Manhattan, NY 10010 (212) 889-0905 Visit Website

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