Over 90% of retail sales occur in brick-and-mortar stores

A weekly feature bringing you the industry’s latest intel
By Chava Gourarie | August 31, 2017 09:00AM

Credit: CBRE

According to this week’s market reports, over 90 percent of retail sales occur in brick-and-mortar stores, and by one measure, one-bedroom rents in New York are down 9 percent year-over-year.

Residential

Luxury sales | Olshan Realty
Fifteen residential contracts were signed last week at $4 million and above, the ninth consecutive week with fewer than 20 luxury sales. The total asking dollar volume was $100 million. Read the full report here.

Rental report | Zumper

Rents dropped in New York by 3 percent in September, for one and two-bedrooms, compared with the previous month. One-bedroom rents have decreased by 9 percent year-over-year. Read the full report here.

Rental report | StreetEasy
Residential rents rose slightly in July in Brooklyn, Queens and Manhattan. Discounts were offered in 32 percent of Brooklyn rentals, and 36 percent in Manhattan, down from nearly 50 percent in both boroughs in the fall. Read the full report here.

Commercial

Retail report | CBRE
Over 90 percent of retail sales occur in brick-and-mortar stores, and more than 50 percent of online sales are made by brick-and-mortar brands, indicating that traditional retailers may be in a less dire position than previously thought. Read the full report here.