The city’s recovery in the retail industry this year has been a “mixed bag,” with rents remaining low, signed leases rising and storefront availability continuing to drop, according to a CBRE report released Thursday.
Residential neighborhoods are flourishing, but the business districts lack the levels of workers and tourists seen before the Covid-19 pandemic, the report said.
Hindering the recovery are the lingering effects of the omicron variant, Russia’s invasion of Ukraine, supply-chain delays and inflation, the report said.
Manhattan’s average retail asking price fell to $591 per square foot, down 4.5% from last year.
“Despite feeling some of the impact from the Covid omicron variant and
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