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Asking Rents Fall in New York City


REBNY just published its spring report on New York City's retail real estate market. You can view the document below. Asking rents are down 11 percent from fall 2008.

Each of the borough's six geographic areas showed a decline in the average asking rent for all available space, ranging from 6 percent in Midtown to 22 percent on the West Side compared to six months earlier. Double digit declines in the average asking rent for all available space were reported on the East Side (12 percent), Midtown South (14 percent), Downtown and Upper Manhattan (13 percent).

REBNY Retail Report Spring09

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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