Figures
Manhattan’s Food & Beverage Leasing Boosted by Upscale and Experiential Restaurants
December 12, 2024 10 Minute Read
Looking for a PDF of this content?
- Consumer appetite for recreation and leisure surged over the past three years, propelling New York City’s food and beverage (F&B) sector to one of the most active tenant categories by both number of deals completed, and square footage leased.
- Since 2010, the F&B sector has been consistently one of the most active categories in Manhattan, accounting for approximately 34% of the total number of retail transactions signed annually.
- Between 2021 and YTD 2024, the F&B category saw more leases completed in Manhattan than any other sector with 833 transactions totaling nearly 2.9 million sq. ft., accounting for over 33% of all deals and 23% of the total leasing volume.
- From 2021 to YTD 2024, “new-to-market” F&B tenants leased over 377,000 sq. ft. across 87 deals in Manhattan – roughly 10% of all F&B transactions signed during that period.