The Department of City Planning studied commercial corridors in 24 neighborhoods across the five boroughs and concluded that while shuttered storefronts plague some of the city's richest and poorest areas, the phenomenon is far from a pandemic.
"There is no single dominant trend in retail in New York City," the survey asserts. "Data did not indicate a pervasive vacancy problem across the city, but did identify a number of high-vacancy corridors."
— Crain's New York
3 Comments
Link appears to be broken? Don't think this is the original link (given publishing date) but related at least?
Thanks for pointing that out, the link has been corrected.
the phenomenon is far from a pandemic ... but did identify a number of high-vacancy corridors
Apparently they didn’t look at turnover rates, occupancy types, rents, etc. Amazon - which does 50% of all US e-commerce - accounts for 5% of all retail in the US. Add in the 50% that Amazon does not do and there has been a 10% (and growing) reduction in brick and mortar retail.
Many retail shops that survive have been hit hard by discount online retail with minimal overhead, so that while they remain in business for now the future is not bright.
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