According to the most recent market reports, retail rents are down in most shopping corridors in Manhattan. Both the Real Estate Board of New York and CBRE released retail reports tracking 17 and 16 shopping corridors respectively. REBNY looked at how the areas with decreasing rents saw increased leasing activity. A CBRE report looked at the whopping 89 percent growth in rents between 2010 and 2014, and the sharp drop-off since.
Residential
Luxury Sales | Olshan Realty
The total asking dollar volume for the 32 luxury contracts signed last week, was $194.5 million. Half of the contracts were below $5 million. Read the full report here.
Commercial
Top 100 taxed properties | CommercialCafe
New York City is home to 77 of the 100 highest-taxed properties in the United States. General Motors is at the top of the list, with a $72 million tax bill in 2016, and Stuyvesant Town came in second, paying $60 million in taxes. Read the full report here.
Manhattan Retail Report | REBNY
Rents fell in 14 of Manhattan’s 17 shopping corridors earlier this year, as retail landlords continue to look for a soft landing while asking rents slide from record highs. Read the full report here.
NYC Retail Viewpoint | CBRE
Retail rents in Manhattan’s 16 shopping corridors grew by 89 percent between 2010 and 2014. Since 2014, citywide, rents have decreased 21 percent but remain 50 percent higher than 2010. Read the full report here.
U.S. Real Estate Chartbook | RCLCO
The economic outlook has changed little over the first quarter of 2017: Lending remains right, transactions are down, and job growth and consumer spending continues to grow. Read the full report here.