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Luxury brands lead NYC retail leasing boom, push rents up

Rents on upper Madison Avenue had fallen into the $600s per foot now, a bevy of 75 transactions have pushed rents back towards $1,000 per foot. ....

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Creative retail and hotel spaces are redefining New York

In the Big Apple, brands, resorts and arts organizations are transforming spaces into unique experiences that immerse guests into a themed fantasy. ....

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Manhattan Retail Market a 'Mixed Bag' in Q3 – Commercial Observer

Average asking rent increased for the fifth consecutive quarter despite declining leasing activity, according to CBRE. ....

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Times Square Shopping Searches For Its Groove Post-Pandemic – Commercial Observer

COVID emptied storefronts and sunk foot traffic so much that the retail character of the Crossroads of the World shifted yet again. ....

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Retail Subleasing Could Grow in Popularity With Empty Stores

(Getty, Photo Illustration by The Real Deal)
When fast-fashion chain Mango agreed to sublease Ralph Lauren’s 28,000-square-foot Fifth Avenue store last November, the deal seemed like a win-win for both retailers.
Mango would be able to explore the idea of having a store on one of the city’s most iconic shopping corridors, at a fraction of the cost. Ralph Lauren, meanwhile, was struggling due to the pandemic, and would have a chunk of its rent paid off.
But the deal hasn’t worked out quite as either hoped and shows some of the challenges inherent in retail subleasing, which experts believe could become more popular as tenants struggle to make rent and landlords look for options. ....

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