Figures

Manhattan Retail Figures Q4 2024

January 10, 2025 10 Minute Read

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  • Average asking rent in Manhattan’s retail corridors was $697 per-sq.-ft.— down 3% from the prior quarter but up 4% year-over-year.

 

  • The taking rent index for the prime 16 retail corridors was 81.2%, up 110 basis points (bps) from the prior quarter and 190 bps from 79.3% a year prior.

 

  • The number of direct ground floor availabilities across Manhattan’s 16 premier shopping corridors increased to 194 from 179 —up 8% quarter-over-quarter but 1% below the prior year.

 

  • The rolling four-quarter aggregate leasing velocity, which measures total leasing (renewals and new leases) for the four prior quarters, was nearly 3.1 million sq. ft., up 21% from the prior quarter but 4% below the same period one year ago.