4 ms·
Have lived and worked in Manhattan for years, and this is an exaggeration. Retail vacancy rate is more like 12-15% in Manhattan, and lower than that city-wide.
by ryanwaggoner 6y ago
Have lived and worked in Manhattan for years, and this is an exaggeration. Retail vacancy rate is more like 12-15% in Manhattan, and lower than that city-wide. It’s a problem, but Manhattan was in no way a “ghost town” with half the stores empty before the pandemic.
- tartoran 6y agoIn the commercial sense a ghost town compared to 20 years ago when I first moved here. But yes, I think it’s not the right word. I don’t know any official figure but I’ve seen entire blocks half-occupied or even less than that (storefronts) about half a year ago when I ventured to Manhattan. I was shocked then and imagine it must be worse now. I was reading an article about the real storefront occupancy rate in Manhattan and it is not a known thing. Various realtors have their internal figures but they don’t share it with the world, so any figures may as well be inflated by them. The bubble is wobbly if you ask me