Retail Is Back But Not For All NYC Stores

by MR Magazine Staff

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.