Summer 2018 Retail Pricing

The average store space in New York City rents for $116.00 a square foot, but one would not know it from all of the press announcing very very high asking prices....Overall, rents are down between 2% and 18% since 2017 (CNY, 7/24/18). 

Prime Fifth Avenue: Average asking per square foot is $3,000(REW 1/3/18). The top retail deal in 2015 was for Swatch, which paid $35 million per year for 14,700 square feet on 54th and Fifth ($2,380 per square foot).

The most expensive lease in 2016 was the Bulgari 730 Fith space, which proportedly went for an astounding $5,500 per square foot....but there may have been build out concessions of up to $1,000 a square foot, as was purportedly done for Coach (TTD 7/16). 

Fifth Avenue between 42nd and 49th Street: $1,101 per square foot.

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: $1,644 (REW 5/18/16)

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).