NEW YORK CITY—The Real Estate Board of New Yorkreports that the overall average asking rent for retail groundfloor space throughout Manhattan is now $149-per-square foot, upfrom $130-per-square-foot recorded in the fall of 2013.

REBNY in its Fall 2014 Retail Report states that rents in 13 ofthe 17 retail corridors in Manhattan saw increases in rentyear-over year. The average asking rent for ground floor space onFifth Avenue, between 49th and 59th streets, increased 8%year-over-year to $3,420 per-square-foot, and is the highest askingrent of any Manhattan retail corridor. In the Times Square marketalong Broadway and Seventh Avenue and between 42nd and 47thstreets, average ground floor asking rents rose by 7% over the lastyear to $2,317 per-square-foot.

Other prime retail markets in Manhattan also saw rent increases.For example, along Madison Avenue between 57th and 72nd streets,the average asking rents rose by 24% from last year to $1,709per-square-foot. In the Flatiron District along Fifth Avenuebetween 14th and 23rd streets, asking rents increased by 23% to$403 per-square-foot year-over-year. In Herald Square along West34th Street, average asking rents grew by 21% to $891per-square-foot.