Demolition is underway for 200,000 square feet of retail space at 28 Liberty, according to the property’s website. The work includes replacing some of the building’s street-level black granite walls with glass facades. The property also says the Landmarks Preservation Commission approved a proposal for adaptive reuse of the plaza, with ground-floor retail and other plaza changes.
A separate tenant milestone at the Lower Manhattan tower is Court 16’s lease of 7,000 square feet, recorded on 28 Liberty’s news page. The supplied information identifies this as a lease, not an expansion.
A mixed citywide retail picture
The redevelopment comes amid varied conditions across Manhattan. The New York Post, reporting on a Real Estate Board of New York survey, said demand came from international luxury brands, expanding local businesses, food-and-beverage tenants, and health-and-fitness operators. The same account noted that average asking rents remained 32% below peaks from the previous decade. Herald Square had 25 vacant storefronts, while its average asking rents fell 14%, the Post reported. These citywide and district-level findings provide context; they do not establish leasing results for 28 Liberty’s planned retail space.
