Are Landlords to Blame for New York’s Rising Retail Vacancies?
November 01, 2018 / Liz Wolf
The storefront vacancy in Manhattan and across New York City is at unprecedented high levels. Years of increasing rents for retail space, growing competition from e-commerce players, changing consumer shopping patterns and retailers’ bankruptcies have left some of the country’s priciest retail submarkets with empty spaces. New York City officials think they may have a way to fix that.