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New York

City’s retail market remains strong

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One market segment that remains strong as the economy flags is retail property across the tri-state region and especially New York City, where countless new retail projects are underway in all five boroughs. The city has one-third less retail space per person than the national average. Some new retail projects include the redevelopment of the 575,000-square-foot Kingsbridge Armory in the Bronx; East River Plaza, a 475,000-square-foot retail center in East Harlem; and Columbus Village, a 320,000-square-foot Manhattan development.