- Kristopher Fraser |
In one of the first casualties of New York's retail scene due to coronavirus, 10 Corso Como in Southstreet Seaport has closed its doors. The store is closing after just two years in New York City as 10 Corso Como's real estate partner, The Howard Huges Corp., decided to take more drastic measures out of fear of losing on their investment.
“This has not been an easy decision, but … circumstances are not allowing 10 Corso Como at the Seaport District to flourish at this stage,” 10 Corso Como founder, Carla Sozzani, said in a statement. “We are proud to have shared the 10 Corso Como DNA with the Fulton Street Market Building, a site that is truly a New York landmark. And we are sorry to say goodbye to New York for now, but the future is always to be created.”
“10 Corso Como was an exciting addition at the Seaport and we thank the entire team and leadership for their vision, commitment and energy,” added Saul A. Scherl, president of the New York Tri-state Region of The Howard Hughes Corp, in a statement. “We will use this next period to evaluate new opportunities to enhance the experience for our entire Seaport community, residents, neighbors and workers.”
10 Corso Como could just be the first in a series of retail casualties to hit New York City. The city is currently losing billions of dollars as the citywide lockdown and social distance orders continue and businesses are under temporary shutdown. The 2 trillion dollar stimulus package passed by Congress and signed by Donald Trump does offer provisions to help small businesses, so there is hope for independent designers, but even multi-billion dollar retail companies, like H&M, are struggling.photo: courtesy of Scott Rudd