REBNY president John Banks REBNY president John Banks

NEW YORK CITY— The retail sector in Manhattan continues to try to find its equilibrium with 15 of the 17 top commercial corridors in New York City seeing declines in rental rates.

A report released by the Real Estate Board of New York for the Fall of 2018 paints a picture of a market in continued decline. In its bi-annual survey, REBNY found that four more corridors are experiencing declines in ground floor retail average asking rent as compared to a year earlier.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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