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Manhattan Retail Momentum Spreads Beyond Premier Shopping Corridors
Manhattan’s strong retail recovery continues, driven by a mix of international luxury brands, expanding local operators, ecommerce companies, restaurants, fitness concepts and experiential retailers, the Real Estate Board of New York (REBNY) reported. And while demand remains strongest in Manhattan’s premier shopping corridors, leasing activity is spreading beyond traditional retail hubs into residential neighborhoods and emerging districts.
Asking rents increased in eight of the 16 corridors tracked in the biannual report covering the first six months of 2026, while availability continued to decline in many of Manhattan’s most competitive locations. However, despite recent gains, rents remain well below their 2016 highs, leaving room for future growth.
“Manhattan’s retail market continues to demonstrate remarkable momentum,” said Keith DeCoster, VP of market data and policy at REBNY. “Luxury brands, restaurants, fitness operators and digitally native retailers are all competing for space, while investing heavily in experiential stores that blend shopping, hospitality and entertainment. That level of commitment reflects long-term confidence in New York City.”
Pictured: Primark announced in April that it will open its first Manhattan store in Herald Square.
- ◦Lease
