Retail Is Back But Not For All NYC Stores

Here are two numbers about retail in New York that don’t appear to make much sense when paired together. A recent Douglas Elliman survey found that about 20 percent of all retail space in Manhattan is empty compared with roughly 7 percent in 2016. Retail employment in the city has increased by 6,000 through July (seasonally adjusted), compared with a gain of only 2,000 during the same period a year ago. The increase in retail accounted for a quarter of the total job increases during the period. Read more at Crain’s New York.