Spring 2016 Manhattan Retail Report

Following 2015’s robust growth and activity, the Real Estate Board of New York’s (REBNY) Manhattan Retail Report for Spring 2016 showed ground floor retail asking rents declining slightly in 10 of the 17 corridors surveyed, with only slight increases in some corridors, year over year.

Many in the industry view this as a needed natural adjustment as rents in many retail corridors had climbed significantly over the past several years.  The slowdown in global retail growth has led to less competition for space and more availability.