The Real Deal New York

Retail rents on Bleecker Street drop 25%

A weekly feature bringing you the industry’s latest intel
By Chava Gourarie | December 01, 2017 07:00AM

(Credit: REBNY)

According to this week’s market reports, median rent in New York is down 0.4 percent, and retail rents on Bleecker Street fell 25 percent since fall 2016, but only 1 percent since the spring.

Residential

Luxury sales | Olshan Realty
Fifteen residential contracts were signed last week at $4 million and above with a total asking dollar volume of $112 million. Read the full report here.

Townhouse sales | Leslie J. Garfield
Between Nov. 11 and 22, four townhouses went into contract in Brooklyn and Manhattan, 15 entered the market, and 10 dropped their ask. Read the full report here.

Rental report | ApartmentList
In November, the median rent for a one-bedroom in New York was $2,080, down 0.4 percent month-over-month and .1 percent year-over-year. Read the full report here.

Commercial

Retail report | REBNY
Average rents decline in 13 of Manhattan’s 17 retail corridor in fall 2017. Bleeker Street saw the greatest decline in median rent since 2016, with a 25 percent drop. Read the full report here.

NYC office insight | JLL
Despite strong office leasing activity, particularly on the West Side, Manhattan overall asking rents rose by less than 1 percent-year over-year in the third quarter. Read the full report here.

Office pipeline | Commercial Cafe
New York leads the nation in office deliveries for 2018, with 15 buildings and 6.8 million square feet of office space currentlyunder construction. Read the full report here.