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May 2023 » Market Analysis » New York Retail Report
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| NEW YORK RETAIL VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Retail | 0.48 | 0.01 | 0.48 | 3.2 % | 4.5 % |
| Midtown South Manhattan Retail | 0.61 | 0.08 | 0.69 | 4.5 % | -1.84 % |
| Downtown Manhattan Retail | 0.26 | 0.0 | 0.26 | 8.3 % | -25.95 % |
| Total Manhattan Retail | 1.35 | 0.08 | 1.43 | 4.4 % | -1.75 % |
| NEW YORK RETAIL VACANT SPACE NOW AND IN THE NEXT TWO YEARS (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
| Midtown Manhattan Retail | 0.9 | 0.06 | 0.97 | 5.26 % | 4.5 % |
| Midtown South Manhattan Retail | 1.28 | 0.13 | 1.4 | 7.6 % abc | -1.84 % |
| Downtown Manhattan Retail | 0.31 | 0.0 | 0.31 | 6.17 % | 0 % |
| Total Manhattan Retail | 2.49 | 0.19 | 2.68 | % | -2.32 % |
Manhattan Retail Rent Vacancy
- Total Available Manhattan Retail Space decreased from 1.46 million RSF to 1.43 million RSF
- Midtown Manhattan Retail vacancy stayed at 0.48 million RSF.
- Midtown South Retail space vacancies decreased from 0.71 million RSF to 0.69 million RSF
- In Downtown Manhattan, Retail vacancy decreased from 0.27 million RSF to 0.26 million RSF
