Friday, July 20, 2018

Rents keep dropping in New York as a new wave of retail moves in

Retail rents in New York keep dropping, opening up the door for a new wave of stores to move in.

Average rent prices in a dozen of 16 main retail corridors in New York fell in the past 12 months, according to a new report from CBRE. The average advertised rent fell by a little more than 12 percent to $658 per square foot and landlords are more willing to take less, the commercial real estate services firm found.. . . more