Manhattan retail rents are up

Retail rents in most of Manhattan’s major retail areas have shot up over the past year, according to the latest figures released by the Real Estate Board of New York. The rise in asking rents for street-level retail space in Harlem and the south end of Broadway was among the highest in the city, with rents on the “125th Street Corridor” between both rivers surging 38 percent to an average of $90 a square foot and rents on The Broadway corridor between Battery Park and Chambers Street posting gains of 45 percent to $126 a square foot. more []
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