Can there be too much luxury in New York City?

It's official! Neiman Marcus has confirmed that it will finally open its first full-price store in New York City at Hudson Yards in 2018, putting to rest rumors that had become so persistent we all just assumed them as fact. With the opening of Nordstrom the same year on West 57th St., New York City finally will have every luxury anchor in the U.S. Some observers, however, have wondered how much is too much? By 2018, affluent shoppers will be able to choose among Barneys New York, Neiman's sister store Bergdorf Goodman, Bloomingdale's, a greater luxury focus at Lord & Taylor, Neiman Marcus, Nordstrom and Saks Fifth Ave., not to mention the many designer shops and luxury boutiques we're known for on Madison Ave., Soho and elsewhere. That's a lot of luxury! I believe our city uniquely can handle all of it and more. These new anchors are locating in areas that are gaining luxury residential developments, creating a market literally outside their front doors. And historically, New York has had multiple luxury anchors-veteran shoppers fondly recall storied names such as B. Altman and Bonwit Teller, and Henri Bendel also once served high-end apparel shoppers. It could be argued that these new entrants are re-establishing much-needed luxury shops. Since that era, New York's tourism has skyrocketed, and diversified. Of course, not all of the 54 million tourists expected this year will shop at these price points, but we'll certainly have our fair share, particularly as we gain visitors from emerging areas in South America and Asia. And all of them are aware of these legendary retailers. I for one can't wait for the competition to begin! Other retail also is opening around town. Vilebrequin is the latest entry at Brookfield Place. Shoe merchant Dune London will have its first store in the U.S. at 518 Broadway, with a shop at the World Trade Center retail complex to follow. ShowRUUM, from children's clothing brand RUUM has opened at 1153 Madison Ave. Parents can look at the in-store samples and order on iPads for deliveries in as little as two hours! Skagen's watches and accessories have arrived at 1585 Broadway. Trademark from Pookie and Louisa Burch (daughters of C. Wonder's Chris Burch) continues the family retail legacy at 95 Grand St. Marlow Goods, which offers leather, accessories and home items, is popping up at the Wythe Hotel, 80 Wythe Ave., through year-end. Brooklyn Bodyburn has opened a second location, at 296 Court St. Vinyl headquarters Permanent Records has relocated to 150 20th St. in the South Slope. Madewell is coming to Brooklyn at 126 North Sixth St. The calendar is busier than ever. On Friday, October 10th, I'm honored to moderate a panel of leading real estate journalists at the "Meet the Press" session at the Academy of Continuing Education's Fall Conference. Editors and reporters from the Commercial Observer, Crain's New York Business, New York Daily News, Mortgage Observer, New York Post, The New York Times and The Wall Street Journal will join me from 1:30 p.m. to 2:30 p.m. at the President's Room of the New York Athletic Club, 180 Central Park South. These are some of the best observers of our industry around, and it should be a spirited and informative session! For more information, visit http://www.realestateacademy.com/specialevents.htm. I'm excited to once again moderate NYCREW's Industry Spotlight on the "The Women Leading New York's Real Estate Families, Take Three" to be held Wednesday, October 15th, from 6:30 p.m. to 8:30 p.m. at the Women's National Republican Club, 3 West 51st St., New York City. Joining me will be Archie Gottesman, co-owner and chief branding officer of Edison Properties; Shari Goodstein Rossi, executive director and partner, Goodstein Organization; and Laurie Zucker, vice chairman of Zucker Organization. This is always one of NYCREW's most popular panels, and is a personal favorite. For more information about these and other NYCREW events, please visit www.nycrew.org. Happy Shopping! Faith Hope Consolo is the chairman of The Retail Group at Douglas Elliman Real Estate, New York, N.Y.