Cool – the elusiveje ne sais quoiwe all want, can’t define, but know it when we see it.
So what makes a neighborhood cool? Cushman& Wakefield, a commercial real estate company, is trying to figure out that fickle aesthetic in a new report, “Cool Streets,” that examines the 100 hip ‘hoods in the country. To do this, Cushman & Wakefield had to figure out what constitutes as cool.
“Most of the neighborhoods featured in this report are up-and-coming trade areas driven by dramatic demographic shifts and strong Millennial preference for urban living,” the report says. “The renaissance occurring on these Cool Streets has been driven by an explosion of new restaurant and retail concepts that connect with the seemingly elusive Millennial consumer like no other.” In the No. 1 spot: Sunset Park, Brooklyn, which researcherscalled”edgy cool.”
Claiming Williamsburg has become “fashionable and pricey (and mainstream),” Cushman & Wakefield say the Burg’s bohemian residents have been driven out in search of more affordable neighborhoods. Enter Sunset Park, which it identifies as having the most retail growth potential for big-boxes and mom-and-pops while keeping rents low. Millennials now make up nearly 27 percent of the neighborhood, which used to be a largely industrial area.TheNew York Timespointedout in January that Sunset Park has evolved in a very “hip” way. “There are no Starbucks in this middle-class waterfront enclave, no fancy restaurants and no luxury condominium developments,” theTimeswrote. “Aged warehouses now house businesses including a company that sells jewelry online and a cafe that feeds workers fresh-sliced pancetta sandwiches for lunch.” Eight other NYC ‘hoods made the list:
