New York City – New York continues its reign as the priciest place to rent retail property, according to a report released Wednesday by brokerage firm CB Richard Ellis Inc. Though rents here declined 25% over the last 12 months due to the recession and new flexibility from landlords, prices were still an average $1,640 a square foot for ground floor retail space in the third quarter of 2009.
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Manhattan is the center of the universe for fashion and shopping,” said Susan Kurland, an executive vice president at CBRE. “Fifth Avenue continues to be the most expensive street,” she added, noting that rents there are currently near $2,000 a square foot.
The average rent/ sf in Manhattan is no where close to $1,640
Talking about RETAIL space, not LIVING space.
what is the average residential rent in brooklyn?