Retail Market in New York’s Outer Boroughs Presents a Bifurcated Picture

Published Wednesday, December 02, 2009

Times of struggle help separate the inherently strong from the weak, according to popular wisdom. While that principle has been somewhat at play in the performance of Manhattan’s retail real estate sub-markets during this downturn, it’s become particularly evident in the outer boroughs of New York City. Compared to the rest of the country, New York’s outer boroughs, including Brooklyn and Queens, remain under-retailed, with less than 20 square feet of retail space per person. During the peak of the market, real estate developers sought to take advantage of the imbalance with a slew ...

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