Nicole LaRusso, director of research & analysis, CBRE Tri-State
NEW YORK CITY—While retail rents in New York City continue to fall as landlords try to remain flexible in response to changing market conditions, forecasters are optimistic about the upcoming holiday season here.
Commercial brokerage firm CBRE released its third quarter report on the Manhattan retail market on Tuesday and noted that the average asking rent across Manhattan's 16 main retail corridors dropped 8.4% year-over-year, falling from $875-per-square-foot to $802 per-square-foot.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
