The Real Deal New York

Available space bulges on Soho’s Broadway

Asking rents hit $1,000 per foot or more for prime spots; landlords seem ready to deal

May 04, 2015 04:45PM
By Adam Pincus

530 Broadway

530 Broadway

From the May issue: The east and west sides of Broadway in Soho house about 120 storefronts. Some have premier tenants like Prada, Hugo Boss and Uniqlo, but last month about two dozen had space available for lease.

That’s more than 20 percent of the units, a level that is giving tenant brokers negotiating leverage. It marks a change from a few years back, when landlords held all the cards. And there’s been no major deal announced on the stretch since last fall. [more]