Summer 2019 Retail Pricing

The November 28th, 2018 Real Estate Weekly confirms that Manhattan retail asking rents are on the decline. Of 17 high profile corridors, 15 show year end decreases. The average store space in New York City rents for $116.00 a square foot. Overall, rents are down between 2% and 18% since 2017 (CNY, 7/24/18). 

Prime Fifth Avenue between 42nd and 49th Street: $3.047 per square foot. Bulgari paid $5,500 per foot in 2016 at the top of the market.

57th Street between Fifth and Madison Avenues: $1,500.

Prime Broadway @ Times Square: $1,930 down from $2,179 in August '17 and down from a high of $2,363 in 2015 (REW 9/13/17).

Prime Madison Avenue: $1,039.00 Down 25% (Crain’s 5/20/19)

Prime SoHo: Prime Broadway sites: $685 to $760 asking, down from over $1,200...

Flatiron: $200-$300 a square foot (average $308) / Prime Broadway average $390 (REBNY 2016 Retail Report).

Herald Square: $635 a square foot (CNY 7/24/18). Many rents have been lower, some higher. 

Prime 34th Street: $836, down from $1,000 (CO 6/8/16)

Meatpacking: $345 a square foot (RD 2017 DB).

Upper West Side: Prime Columbus average $403 (NYP 11/16/16). Amsterdam and less busy areas should be closer to $100.

Wall Street / Broadway from Chambers to Battery Park: $369 (NYP 11/16/16).

Third Avenue 60th-72nd St.: $175-$300 a square foot, but there are currently a lot of vacancies, so prices should be much lower. 

Lexington Avenue 60th-96th Streets: $125 a square foot.

First-Second Avenues: $100-$200 a square foot.

Court Street (Brooklyn): $200.00 a square foot (REW 1/13/16)

Harlem (West 125th Street): $65-$279 a square foot (NYP 11/16/16).