Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Average asking rents for ground floor space in Manhattan’s retail corridors have gone up between 2% and 71% in the past six month, says the Real Estate Board of New York in a report released Thursday. The uptick in rents coincides with an increase in leasing velocity.

Fastest-growing average asking rents were seen on Broadway and Seventh Avenue between 42nd and 47th streets, which rose 71% to $1,400 per square foot, while those on Bleecker Street between Seventh Avenue South and Hudson Street rose 30% to $456 per foot, according to REBNY’s Spring 2010 Retail Report. Year-over-year increases of 49% and 41%, were seen in the aforementioned Broadway/Seventh Avenue corridor and on Fifth Avenue between 49h and 59h streets, where they now average $2,300 per square foot.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


GlobeSt Net Lease Spring 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.