Retail vacancies dot upper Broadway strip

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Empty storefronts abound along Broadway between 84th and 100th streets, where asking rents range from $195 a foot to $350 a foot — 20 percent below their peaks two years ago — and where retail brokers have been hunting for deals. “There are some major vacancies on [that strip] of Broadway,” said Neal Ohm, a broker who specializes in Upper West Side leasing at CitySites Commercial Realty. Those include 6,000 square feet at 2385 Broadway and 10,000 square feet at 2360 Broadway. At 2373 Broadway, 12,000 square feet is available in the space that the Gap recently vacated. Actual rents in the corridor are nearly 40 percent below peak levels. Interest in the area among national retailers is “not as strong as it used to be,” Ohm said. In February, some Upper West Side retail tenants along Broadway told The Real Deal that landlord Friedland Properties had failed to renegotiate rents, causing some of the vacancies. [Crain’s]