Big Boxes Come To Manhattan

Manhattan gets it first taste of mega-box retailing today with the opening of the massive East River Plaza mall on FDR Drive in East Harlem. Anchor tenant Costco's 110,000 square foot store is open as of this morning, coming in the next few months will be the long panted-over Target, as well as other jumbo retailers at the 500,000 square foot complex, which is 95% leased. Costco officials claim they expect the location to do twice the per-square-foot sales of its average store, but I don't know where Manhattanites will store a five-liter drum of olive oil. Now our fancy exclusive little island has two Kmarts, three Home Depots, a Costco, and an Ikea that's just a ten minute water taxi from Wall Street. Meanwhile the Great Evil continues to cast jealous eyes on the borough. Give it time.