Spring 2019 Manhattan Retail Report

As rents continue to self-correct, deal-making has increased with tenants committing to space in key areas for both new and existing product. Amid increases in consumer spending, income growth, and employment, Manhattan’s top retail corridors continue to experience decreased rent values with heightened availability rates. In more recent periods, asking rent depreciation has slowed causing rents in several corridors to level off as transaction volumes increase. Continuing 2018 trends, Manhattan retail leases in the first months of 2019 were driven by the food and beverage industry, followed by activewear, cosmetic, and technology brands.