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Even with a conservative figure of 18 existing
food hall projects accounting for 616,000 sf,
New York City currently accounts for more
than 25.4% of the entire U.S. food hall
projects inventoried for this report.
But that is only part of the story. At year-
end 2015, we were tracking just 11 projects
totaling 478,000 sf. And it is critical to note
that our current numbers reflect the
marketplace as of the close of Q3 2016.
That means that through the first nine
months of 2016, New York City has added
seven major new food hall projects totaling
more than 138,000 sf. One additional
project—the Canal Street Market—is
expected to be delivered during Q4 2016
and will add an additional 12,000 sf to that
total. Also, the DeKalb Market Hall in
Brooklyn (26,000 sf) is under construction
with a planned 2017 delivery date.
In addition to the Canal Street and Dekalb
Hall Market, five more food halls are in the
development pipeline, some of which are
likely to break ground by the time this
report is released. Those five projects, with
delivery dates slated through 2019, could
add an additional 293,000 sf to the
market. That figure does not include
projects which developers have not yet
announced, projects which could up the
ante by another 50,000 sf or more in the
coming years.
The food hall trend is playing out across
the U.S. and our view is that it is more than
a mere fad. Rather, it is a sustainable,
long-term trend that has potential to
impact the retail marketplace for a number
of years ahead. Nowhere is this trend
playing out with such velocity and sheer
impact than in New York City. As we
sought to catalog the top projects
currently active across the nation, we felt it
imperative that New York City stand alone
in our rankings. Below are our informal
rankings of the Top Ten Food Halls of New
York City for 2016.
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CUSHMAN & WAKEFIELD