Thursday, October 24, 2019

High street rents decline in New York City

Chain Store Age
For upwardly mobile brands desiring a showcase on Broadway in SoHo or on Madison Avenue in New York, now’s the time to grab a space.

Rent decreases on both of those high streets were the main drivers of a 5.7% decline in asking rents in Manhattan over the past year, according to a report from CBRE. The average asking price of $756 per sq. ft. marked the eighth consecutive quarter of rental rate decline in the city.. . . more