A breakdown of the data by market shows that asking rents forground floor space in high-end retail corridors, such as Fifth Ave.between 48th and 59th streets and Madison Ave. between 57th and67th streets, rose dramatically--22% and 38%, respectively.Overall, the average asking rent for ground floor space along theprimary retail streets increased 4.9%.

"There were no real surprises in the report," says MichaelSlattery, REBNY's senior VP, research. "It showed a certainstability in the marketplace. The numbers indicate that it's notrobust, but still positive."

Average asking rents for all retail space in Midtown Southdeclined 1.4%. Major retail corridors Downtown also fell. Forinstance Hudson Street in Tribeca had a 1.6% decline and Broadwayin Lower Manhattan had a 7.4% decline for ground floor space. REBNYanalysts suggest these declines Downtown reflect a continuingstruggle in these areas to recover from the effects of September11.

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