May 25, 2017 Comments Off on Retail Rents are Too High in NYC Views: 739 New York News, Top New York

Retail Rents are Too High in NYC

Though rents are falling in many retail districts of Manhattan, New York City’s problem with retail is not nearly as serious as the problems with retail in the rest of the country.

The city’s retail sales have grown for seven straight years, with robust demand supporting a large, diverse landscape of retailers. However, the asking rents for retail spaces have gotten ahead of even that robust growth in sales in many retail corridors, according to the latest New York City Retail Viewpoint from CBRE.

“While local demand fundamentals remain on solid footing, getting back to market stability will require downward rent adjustments along some retail corridors,” said Nicole LaRusso, director, research and analysis, CBRE Tri-State.

Read More at CBRE

Connect with CBRE’s LaRusso

For comments, questions or concerns, please contact Bendix Anderson

Subscribe to Connect Daily New York

Tags: ,

Comments are closed.