Nicole LaRusso, director, research & analysis for CBRE Nicole LaRusso, director, research & analysis for CBRE

NEW YORK CITY—Despite some strong economic numbers, including an increase in quarterly retail sales, the average asking rent for retail space in Manhattan continues to fall.

The aggregate average asking rent for retail space in Manhattan declined 2.3% in 2018 as compared to a year earlier from $696-a-square-foot at the end of 2017 to $680-per-square-foot at the close of 2018, according to a report released by commercial brokerage firm CBRE.

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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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