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Manhattan’s Ground-Floor Retail Availabilities Decline for First Time Since 2019, CBRE Says

Most Expensive Commercial Corridor, Fifth Avenue, Sees Average Rent Drop Below $2,600 Per Square Foot
Louisiana-based Raising Cane’s Chicken Fingers is one of the brands making its debut in Manhattan as asking rents in tourist-dependent commercial corridors such as Times Square have declined. (Allen Johnson/CoStar)
Louisiana-based Raising Cane’s Chicken Fingers is one of the brands making its debut in Manhattan as asking rents in tourist-dependent commercial corridors such as Times Square have declined. (Allen Johnson/CoStar)
CoStar News
April 14, 2022 | 10:42 P.M.

Manhattan’s retail market, while still struggling to recover from the damages of the coronavirus pandemic, is showing signs of recovery, in the latest signal that New York remains appealing as a retail hub for brands.

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