New York City Area Retail Market Report
By CREhunt Research · Data through Q4 2020 · Aggregated from Colliers
Quarterly retail market indicators for New York City Area, aggregated by CREhunt from Colliers. As of Q4 2020, average asking rent was $42.00/SF/yr and vacancy was 18.0%, per Colliers.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q4 2020 Colliers | $42.00/SF/yr | 18.0% | -504K SF | — | Colliers |
Retail asking rents by submarket
The newest asking rent a named brokerage's report published for each New York City Area retail submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Fifth Avenue (42nd-49th Streets) | $633.00/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Fifth Avenue (49th-60th Streets) | $2,447.00/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Flatiron/Union Square West (Fifth, Broadway) | $329.00/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Herald Square/West 34th Street (Fifth Avenue-Seventh Avenue) | $503.00/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Lower Manhattan (Broadway, Wall, and Fulton Streets) | $204.00/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Madison Avenue (East 57th-East 72nd Streets) | $881.00/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Madison Avenue (East 72nd-East 86th Streets) | $697.00/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Meatpacking | $302.00/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| SoHo (Broadway to West Broadway) | $374.00/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Third Avenue (East 57th-East 79th Streets) | $268.00/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Times Square Bow Tie (Broadway and Seventh, 42nd-49th Streets) | $1,501.00/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Upper West Side (Broadway and Columbus Avenue) | $296.00/SF/yr Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
Frequently asked questions
- What is the average asking rent for retail space in New York City Area?
- As of Q4 2020, the average asking rent for retail space in New York City Area was $42.00/SF/yr, per Colliers.
- What is the retail vacancy rate in New York City Area?
- The retail vacancy rate in New York City Area was 18.0% as of Q4 2020 (Colliers).
- Where does CREhunt's New York City Area market data come from?
- This report aggregates quarterly retail market data for New York City Area from Colliers.
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