Fall 2016 Manhattan Retail Report

Increasing retail inventory and a slower retail sales environment in New York City have started to affect ground floor asking rents in Manhattan’s most prominent retail corridors.  The Real Estate Board of New York’s (REBNY) Fall 2016 Manhattan Retail Report shows that average asking rents declined in 11 of the 17 retail corridors surveyed, which is a shift from Spring 2016 when availability was accumulating in some corridors, but the effect on asking rents was subdued.