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Construction workers were toiling well into the night at the Steve Madden store on 34th Street at Sixth Avenue last week, rushing to ready the space for a Friday debut-just five months after the lease was signed.
"We have been frothing at the mouth to get the store open," says Mark Jankowski, president of retail for the women's shoe company, based in Long Island City, Queens. "This 'Is ground zero (for fashion retail), an ultraprime location."
He isn't the only one who feels this way. An unprecedented level of construction for hip, big-name fashion-related chains is under way on 34th Street between Fifth and Seventh avenues. In addition to Steve Madden Ltd., stores including Swedish clothier Hennes & Mauritz, French makeup powerhouse Sephora and California shoe company Skechers are slated to open by year-end. More heavyweights, such as jeweler Zale, are aggressively looking for space.
The area's appeal stems from the cleanup efforts on the part of the local business improvement district and the high revenue figures racked up by recent arrivals, such as Old Navy. What's more, planned revitalization west of the traditional shopping corridor has retailers eager to move in now, before prices get too steep.
"There was a view that the block lacked credibility among better retailers," says Richard Hodos, president of HGCD Retail Services, who represented Sephora in its deal for space on 34th Street between Sixth and Seventh, across from Macy's. "But we're looking at the future and the fact that the westerly portion of...