QUESTION
What are the current and past storefront vacancy rates in New York City?
1:12:41
·
69 sec
The current citywide storefront vacancy rate is 11.3%.
- In quarter 3 of 2023, the citywide rate was 11.6%
- In Manhattan, the current vacancy rate is 15.0%
- In quarter 3 of 2023, Manhattan's vacancy rate was 15.7%
Calvin Brown
1:12:41
We we definitely understand what you're saying.
1:12:43
And very good point.
1:12:45
Even though it it may not seem that way, I think is a slow and steady downtrend that we've have been observing in terms of the bacon see.
1:12:54
So we're gonna try to, you know, capitalize over that momentum.
1:12:58
And what numbers
Gale Brewer
1:12:59
do you see this year versus last year.
1:13:01
Did you get those numbers earlier in terms of the vacancies?
Calvin Brown
1:13:04
So the current vacancy rate is 11.3.
Gale Brewer
1:13:07
City of city wide?
Calvin Brown
1:13:09
Yeah.
1:13:09
City wide.
1:13:11
What was
Gale Brewer
1:13:11
it last year?
1:13:13
At least 2 22 versus 23 or whatever you want.
Tian Weinberg
1:13:17
The earliest comparison we have is quarter 3 of 2023, it was 11.6.
1:13:24
And then today, 11.3 city wide.
1:13:28
Similarly, in Manhattan, Elko accounts member you're pointing out, I mean, Manhattan is seeing this issue more than the other boroughs?
1:13:37
Mitch Moore.
1:13:39
On the same time frame from quarter 3 2023, we see 5th point 7 decreasing by 7 basis points to 15.0
Gale Brewer
1:13:49
today.
1:13:50
Okay.
