Winter 2018 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: Average asking per square foot is $2,973 (REW 11/25/18). The most expensive lease ever on Fifth Avenue may have been in 2016, which 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: $1,160 (REW 11/28/18), down from $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).