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NYC retail is extremely difficult to find. Not something that many companies track. Your best bet is reaching out to retail brokers in NYC.
thanks, I did and they gave me a good idea.
Is there something I'm missing here? REIS, CoStar, plenty of nyc retail data available. For rent psf. Much of nyc retail is mixed use so hard to find a retail value psf comp.
NYC retail can be hard to track because the rental rates are all over the place depending on what street you are on, what kind of frontage you have, what is included in rent and how the space is divided.
Say you have a building on Madison Avenue: rents for ground floor Madison Frontage could be $1500psf, $2000 psf for the corner space and then $700 for the space that fronts the cross streets. Want basement storage? Add $150 psf. Want TIs? Add $1000 psf.
It isn't like an office tower where you might see a $25 psf or even $50 psf difference in rental rates for higher floors with views, the psf numbers get crazy because of the size of the retail and the importance of the locations. It makes it super hard to track the Bottega Veneta lease that was signed in Dec of 2014 vs. a corner bodega.
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