Business Services Industry
Banks find good fortune in Chinatown; Commerce drops in and Chase expands; St. Marks the spot for next Supercuts.(Real Estate)
Crain's New York Business, June, 2003 by Curan, Catherine
Byline: catherine curan The battle for the bank accounts of Manhattanites continues, as institutions set their sights on Chinatown. Though the neighborhood has been hard hit by the aftermath of Sept. 11 and the SARS scare, Commerce Bank and Chase have cut deals because banks are still prospering in the area.
Commerce, in keeping with its strategy of taking high-profile locations, has just signed a lease for 7,500 square feet of space at 155 Canal St., on the northwest corner of the Bowery. The deal marks the rapidly expanding Cherry Hill, N.J.-based bank's first foray into Chinatown. "Downtown is a fertile market,'' says Jeffrey Roseman, an executive vice president at Newmark New Spectrum Retail, who represented Commerce in the transaction. The Canal...
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