New York is home to some of the world's most expensive retail real estate. Asking rents in the prime of Fifth Avenue have risen about 50 percent in five years to top $3,100 per square foot, or $6.2 million for a space the size of an average Starbucks, according to real estate firms CBRE and Cushman & Wakefield.
Manhattan landlords ask an average of about $94 per square foot per year, compared to $34 in San Francisco, $13 in Atlanta and $12 in Kansas City, Missouri, Cushman & Wakefield says.
National chains have expanded in New York City for six straight years, boasting 7,473 locations last year, according to the Center for an Urban Future, a public policy think tank.
More at the above link.
And this is what the REBNY thinks:
The REBNY is rapidly destroying New York as we know it.
Question: Why does the TA have anything to do with the REBNY?
Question: Why does Dan Garodnick attend annual REBNY parties and is all smiley and friendly in that company?
Question: Why does Mayor de Blasio do likewise?
Pictured above: Steven Spinola, President of the REBNY, who is quoted a lot in the Villager.com article. Mayor de Blasio. Robbie Speyer, chairman of the REBNY and failed landlord of Stuyvesant Town/Peter Cooper Village.
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