Manhattan retail has changed a great deal since 2020. Some corridors still struggle with vacancy, while prime locations are back near pre-pandemic rent levels. It is a split market.
Strong Performers
- Fifth Avenue luxury retail
- SoHo flagship locations
- High-traffic subway-adjacent retail
- Neighborhood essential retail
Investment Opportunities
Retail with below-market leases and room to reposition can pay well on a risk-adjusted basis for a buyer who knows how to lease and operate retail.

