New York City Area Retail Market Report
By PropZone Research · Data through Q1 2026 · Aggregated from Matthews, Lee Associates, Colliers
Quarterly retail market indicators for New York City Area, aggregated by PropZone from Matthews, Lee Associates, Colliers. As of Q1 2026, average asking rent was $54.00/SF with a 4.2% vacancy rate.
Projected current retail pricing — New York City Area
low confidenceProjected asking rent
$54.00/SF/yr
Estimated sale value
$542–$684/SF
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 Matthews data (cap rate 6.2%, asking rent held flat). Assumes ~96% occupancy and a 65–82% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | $54.00/SF | 4.2% | 0K SF | — | Matthews |
| Q4 2025 | $47.86/SF | 4.2% | — | — | Matthews |
| Q1 2025 | $20.76/SF | 4.6% | 159K SF | — | Lee Associates |
| Q4 2020 | $42.00/SF | 18.0% | -504K SF | — | Colliers |
Frequently asked questions
- What is the average asking rent for retail space in New York City Area?
- As of Q1 2026, the average asking rent for retail space in New York City Area was $54.00/SF, per Matthews.
- What is the retail vacancy rate in New York City Area?
- The retail vacancy rate in New York City Area was 4.2% as of Q1 2026 (Matthews).
- Where does PropZone's New York City Area market data come from?
- This report aggregates quarterly retail market data for New York City Area from Matthews, Lee Associates, Colliers.
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