Retail Rents Plummet Across New York City as America’s Glitzy Shopping Districts Turn Into Ghost Towns

CNBC, Aug 3, 2020–Lauren Thomas
America’s most expensive shopping districts are losing tenants and rents are in a free fall. Average asking rents along 16 major retail corridors in Manhattan declined for the eleventh consecutive quarter, falling to $688 per square foot in the second quarter, according to CBRE.