January 13, 2021
Retail rents tumble to historic lows in New York City amid bankruptcies and store vacancies

Rents for retail space in New York City have tumbled to historic lows, dropping as much as 25% from 2019 levels, as troubled retailers like Neiman Marcus and Century 21 closed stores and...

Retail rents tumble to historic lows in New York City amid bankruptcies and store vacancies

January 8, 2021 | Lauren Thomas | CNBC

Rents for retail space in New York City have tumbled to historic lows, dropping as much as 25% from 2019 levels, as troubled retailers like Neiman Marcus and Century 21 closed stores and vacancies soared, according to a report Friday.

The Real Estate Board of New York’s biannual report found that asking retail rents throughout Manhattan during the fall of 2020 declined in all of the 17 corridors it tracks, including pockets along the Upper East Side, the West Village and Downtown.

 Taking rents, the actual rents that leases are signed at, are even lower than asking rents, REBNY said. Brokers are citing a 20% difference, on average, between asking rents and taking rents, it said.

Read Full Article

Recent

Most Popular

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 10-3-2023 Blue Vault wishes to acknowledge and apologize for the delay in publishing some Q2 2023 NTR Individual Performance Pages (IPPs) as well as the full review. We recently added additional reporting metrics to our IPPs, and that, combined with coverage of all share classes and some additional…
Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 9-25-2023 Blue Vault has published the Q2 2023 Nontraded BDC Industry Review as well as Individual Performance Report and Limited Operations pages for the following offerings (newly published pages in bold font): Nontraded REITS American Healthcare REIT Q2 2023 Apollo Realty Income Solutions Q2 2023 (limited operations) Ares…

Explore

Blue Vault Logo
Don’t miss alts news
and educational events

Subscribe Now