Manhattan retail rents jump in 2005

It’s getting more expensive to own places to shop. Retail rents on major Manhattan corridors increased as much as 32 percent over the past year, according to an autumn report from the Real Estate Board of New York. The Third Avenue corridor between 60th and 72nd streets saw the sharpest increases from 2004, with asking rents for ground floor space surging by 32 percent to $248 a square foot. more