-
ABOUT
- REBNY Value Proposition
- William C. Rudin | REBNY Chairperson
- James Whelan | REBNY President
- John H. Banks | REBNY President Emeritus
- Code of Ethics
- REBNY Residential Listing Service
- Become a Member
- Benefits & Rewards
- REBNY Action Network
- REBNY Services
- Our History
- Committees
- Contact Us
- Terms of Use
- Looking for a NYC real estate broker?
- Contests & Awards
- Partnerships
- Sponsorship Opportunities
- EVENTS
- REAL ESTATE EDUCATION
- MEMBER SPOTLIGHT
- GIVING BACK
- DIRECTORY
- RESEARCH
- NEWSROOM
-
STORE
Spring 2007 Retail Report
May 16, 2007
- The average asking rent per square foot (psf) for all Manhattan retail space was $107, nearly unchanged from last year.
- The East Side reported the highest average asking rent psf of $155. Midtown was next with $133 psf.
- Upper Manhattan posted the largest average asking rent psf increase when compared to last year at 18%, followed by Downtown at 9%.
- Average asking ground floor rent psf in eleven of the fourteen major corridors surveyed showed a percentage increase, ranging from 7% to 120% when compared to last year.
- Madison Avenue (57th to 72nd St) recorded the highest average ground floor price of $1,158, followed by Fifth Avenue (49th to 59th St.) at $844. These represented increases of 28% and 10%, respectively.
- Broadway (42nd to 47th St) had the highest percentage increase for ground floor asking rent psf of 120%. The next highest were Tribeca's Hudson St (Chambers to Canal St) at 73%, and 34th St (5th to 7th Ave) at 58%.