2010 RETAIL REPORT NEW YORK CITY
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1 2010 RETAIL REPORT NEW YORK CITY 350 Livingston Street, 1 st Floor Brooklyn, New York Tel: Fax: New York New Jersey - Florida
2 The CPEX 2010 Retail Report is compiled and tabulated for our clients use. Others may receive it upon request. It is produced by the Research Department of.
3 2010 NYC Retail Report We are pleased to present the 2010 CPEX Retail Report, a comprehensive survey of pricing levels for the primary retail corridors throughout the five boroughs of New York City. This aggregated survey of market data information was collected from internal and external sources, including: various data service companies, New York City agencies, CPEX completed transactions, and market reports from our in-house research studies. Careful attention has been paid to summarize the current market conditions. The pricing for each corridor provided is an estimate and a snapshot in time, based on the data collected. Considering the dynamics of the New York Retail Market and the overall economic conditions we face in these difficult times, these pricing levels are not only subject to change, but will most likely change as various market conditions, supply, demand, as well as economic indicators change from quarter to quarter. While the actual pricing levels may change in the coming months, this report can be an important tool for leasing comparisons, percent changes across neighborhoods and boroughs, and for quantifying NOI levels in estimating cap rates and property valuations. This report can assist property owners and business owners with a current and up-to-date synopsis of their market place. For retail landlords and tenants with specific site analysis requirements, please note that each and every property provides unique characteristics which affect its potential lease pricing levels. Characteristics such as location, build-out, neighboring tenants, transportation, street conditions, residential density, automobile traffic, etc., all have an important impact on contracted leasing rates. As the economic market impacts the retail industry, we at CPEX will continue to monitor such changes and make them available to our clients. Please call us if you have any questions regarding this report or if you require further information pertaining to your real estate or business. Ira Krivit Director of Research ikrivit@cpexre.com
4 Bronx Retail Corridors Street Start End $/SqFt Arthur E 182nd St E 186th St $26-$35 Bay Plaza Shopping Ctr $65-$80 Boston Rd Grace Bronxwood $19-$50 Broadway W 230th St W 236th St $35-$65 Bronx Terminal $65-$80 Bruckner Blvd Shopping Center $65-$80 Castle Hill Manning St Westchester $25-$35 Castle Hill Westchester Cross Bronx Service Rd N $19-$25 E 161st St River Sheridan $50-$65 E 167th St Jerome Gerard $50-$65 E 167th St Gerard Morris $65-$80 E 170th St Jerome Wythe Pl $50-$65 E 170th St Wythe Pl Teller $65-$80 E 233rd St Carpenter Bussing $25-$35 E 233rd St Bussing Paulding $19-$25 E Fordham Rd University Creston $80-$100 E Fordham Rd Creston Tiebout > $100 E Fordham Rd Tiebout Webster $80-$100 E Gun Hill Rd - Laconia Burke Paulding $19-$26 E Gun Hill Rd - Norwood Jerome Rochambeau $65-$80 E Tremont - Schylerville Ericson Pl Lamport Pl $26-$50 E Tremont - Tremont Hughes Vyse $19-$25 Grand Concourse Fordam Rd E 183rd St $65-$80 Jerome - Morris Hts W 179th St E 167th St $50-$80 Jerome - Norwood Gun Hill Rd Mosholu Pkwy $80-$100 Johnson W 235th St W 236th St $26-$35 Kingsbridge Rd Creston Sedgwick $35-$50 Metropolitan Linden Dr Metropolitan Oval $50-$65 Metropolitan Metropolitan Oval Parkchester Rd $65-$80 New Horizons Mall $80-$100 Southern Blvd E 163rd St Westchester $50-$65 The Hub - 3rd E 145th St E 153rd St $65-$100 The Hub - E 149th St Morris Courtland $50-$65 The Hub - E 149th St Courtland 3rd $65-$80 The Hub - Westchester 3rd Bergen $65-$80 University W 179th St W Burnside $26-$35 W 235th St Netherland Oxford $26-$35 Webster E 166th St E 168th St $26-$35 Westchester White Plains Rd Colgate $19-$35 White Plains Rd Pelham Pkwy S Bronxdale $35-$50
5 Bronx 233rd St Johnson W 233rd St Broadway E Gun Hill Rd Norwood Jerome Norwood E Gun Hill Rd Laconia Kingsbridge Rd Boston Rd E Fordham Rd Grand Concourse University Arthur E Tremont Tremont Jerome Morris Hts E 167th St 161st St New Horizons Mall E 170th St Webster Bronx Terminal The Hub Westchester Southern Blvd Bay Plaza Shopping Center White Plains Rd Metropolitan E Tremont Schylerville Castle Hill Bruckner Blvd Shopping Center CPEX 2010 Retail Report Legend $19 - $26 $26 - $35 $35 - $50 $50 - $65 $65 - $80 $80 - $100 > $100
6 Brooklyn Retail Corridors Street Start End $/SqFt 13th (Borough Park) 44th St 49th St $65-$80 13th (Dyker Heights) 75th St 82nd St $35-$50 18th 61st St Bay Ridge Pkwy $50-$65 3rd 75th St 86th St $35-$50 5th (Sunset Park) 54th St 50th St $50-$65 5th (Park Slope) Lincoln Pl 16th St $35-$65 7th 9th St Union St $65-$80 86th St (Bay Ridge) 4th Fort Hamilton Pkwy $65-$125 86th St (Bensonhurst) 19th 23rd $80-$100 8th 61st St 53rd St $35-$50 Atlantic Clinton St 4th $35-$50 J Coney Island E. 15th St $50-$65 U Ocean Haring St $35-$50 Bedford North 8th St Metropolitan $80-$100 Brighton Beach Brighton 4th St Coney Island $50-$65 Broadway Flushing Park St $35-$50 Church (East Flatbush) 49th St 53rd St $35-$50 Church (Prospect Park S) Flatbush Ocean $35-$50 Columbia St DeGraw St President St $35-$50 Coney Island J Cortelyou Rd $35-$50 Court St Montague St 4th Pl $35-$100 Eastern Pkwy (Crown Heights) Schenectady Utica $35-$50 Flatbush (Prospect Park S) Linden Boulevard Tilden $35-$50 Flatbush (Park Slope) Atlantic 8th $50-$65 Flatbush (Marine Park) V S $35-$50 Fulton St (Downtown Brooklyn) Adams St Marcy $35-$125 Graham Grand St Skillman $35-$50 Grand St Union St Bushwick $35-$50 The Junction - Flatbush Foster I $50-$65 The Junction - Nostrand Farragut Rd I $50-$65 Kings Highway Coney Island E. 17th St $65-$80 Knickerbocker Menahan St DeKalb $35-$50 Manhattan Greenpoint Meserole $35-$50 Montague St Court St Hicks St $80-$100 Myrtle Carlton St Steuben St $35-$50 Nostrand X Z $35-$50 Pennsylvania Linden Boulevard Flatlands $50-$65 Pitkin Strauss St Thatford $35-$50 Ralph Flatlands K $35-$50 Sheepshead Bay Rd Z Voorhies $35-$50 Smith St Atlantic Union St $50-$65 Utica (Crown Heights) Union St St. Johns Pl $35-$50 Utica (East Flatbush) Linden Blvd Snyder $35-$50 Vanderbilt Atlantic Sterling Pl $35-$50
7 Brooklyn Manhattan Graham Bedford Grand St Knickerbocker Montague Broadway Myrtle Atlantic Columbia Fulton St Vanderbilt Smith Court Flatbush Park Slope 5th 7th Flatbush Church Prospect Park South 5th 8th 3rd Utica Crown Hts Pitkin Church Utica East Flatbush Pennsylvania Coney Island 13th Borough Park The Junction Ralph nue J 86th St Bay Ridge 18th 13th Dyker Hts Kings Hwy 86th St Bensonhurst Flatbush Marine Park nue U CPEX 2010 Retail Report Legend Sheepshead Bay Road Nostrand $35 - $50 $50 - $65 Brighton Beach $65 - $80 $80 - $100 $100- $125
8 Manhattan Retail Corridors Street Start End $/SqFt 145th Street St. Nicholas nue Lenox nue $125-$225 Lenox nue 135th Street 125th Street $125-$ th Street Morningside 5th nue $125-$225 Broadway - Columbia University 113th Street 108th Street $350-$550 Broadway - Upper West Side 108th Street 66th Street $225-$550 Broadway - Lincoln Center 66th Street 60th Street $350-$ th Street Madison nue 2nd nue $125-$225 Third nue - Spanish Harlem 125th Street 102nd Street $125-$225 Columbus nue 97th Street 82nd Street $125-$225 Columbus nue 82nd Street 64th Street $225-$350 86th Street - East Side Lexington nue 2nd nue $350-$550 2nd nue 86th Street 72nd Street $125-$225 Madison nue East 57th Street East 72nd Street $750-$1250 Third nue - Upper East Side 59th Street 72nd Street $225-$350 9th nue 53rd Street 42nd Street $125-$225 Times Square - Broadway 48th Street 42nd Street $550-$1250 Times Square - 7th nue 48th Street 42nd Street $550-$1250 Fifth nue 59th Street 50th Street $1250-$2000 Fifth nue 50th Street 42nd Street $350-$550 42nd Street - Grand Central 5th nue Third nue $350-$550 7th nue 35th Street 13th Street $125-$550 34th Street - Herald Square 7th nue 5th nue $350-$550 8th nue - Chelsea 24th Street Greenwich Street $125-$225 6th nue 23rd Street 17th Street $350-$550 23rd Street 6th nue Park nue $225-$350 Meat Packing - 14th Street 10th nue 9th nue $350-$550 Meat Packing - 9th nue 15th Street Little West 12th Street $350-$550 Meat Packing - Little W. 12th Washington Street 9th nue $350-$550 Meat Packing - Washington St 14th Street Little West 12th Street $350-$550 14th Street 5th nue Lexington nue $350-$550 Union Square - Park nue 17th Street 14th Street $350-$550 Union Square West 17th Street 14th Street $350-$550 Bleecker Street Hudson Street Laguardia Place $225-$550 West Broadway Houston Street Canal Street $225-$350 Soho - Broadway Bleecker Street Canal Street $350-$550 Soho - Canal Street Wooster Street Lafayette Street $225-$350 Bowery East 4th Street Houston Street $225-$350 Lower East Side - Ludlow Street Houston Street Delancey Street $125-$225 Lower East Side - Orchard Street Houston Street Delancey Street $125-$225 Lower East Side - Delancey Street Allen Street Suffolk Street $125-$225 Financial District - Broadway Chambers Street Exchange Place $125-$225 Financial District - Wall St Broadway William Street $125-$225 Financial District - William St Pine Street Beaver Street $125-$225 South Street Seaport Pearl Street South Street $225-$350
9 Manhattan W 145 th St Lenox 125 th St Broadway - Columbia University 116 th St Broadway Upper West Side Columbus Third Spanish Harlem 86 th St Broadway Lincoln Center Madison 2 nd 9 th Times Square 5 th Third Upper East Side 8 th 7 th 6 th 34 th St 42 nd St Meat Packing Bleecker West Broadway Financial District SoHo Canal South St Seaport 23 rd St Union Square & 14 th St Bowery Lower East Side CPEX 2010 Retail Report Legend $125 - $225 $225 - $350 $350 - $550 $550 - $750 $750 -$1250 $1250-$2000
10 Queens Retail Corridors Street Start End $/SqFt 20th nue Whitestone Expy 130th Street $35-$50 30th nue 29th Street 35th Street $20-$25 31st nue 21st nue 23rd nue $35-$65 36th nue 29th Street 35th Street $25-$35 37th nue 74th Street 85th Street $35-$50 Astoria Boulevard 24th nue 29th nue $20-$25 Austin Street Yellowstone Boulevard 73rd Road >$100 Bay Terrace Mall $80-$100 Bell Boulevard 48th nue 26th nue $25-$35 Broadway Crescent Street 38th Street $25-$35 Broadway 38th Street 42nd Street $65-$80 Continental (71st Street) Queens Boulevard Burns Street $80-$100 Crossbay Boulevard 165th Street 156th Street $25-$50 Ditmars Boulevard Hazen Street 29th Street $35-$65 Fresh Meadows Mall $25-$35 Fresh Pond Road Metropolitian nue Madison Street $25-$50 Greenpoint nue 39th Street Queens Boulevard $35-$50 Hillside nue 212th Street Little Neck Parkway $25-$50 Jamaica - Woodhaven Woodhaven Boulevard Dexter Court $25-$35 Jamaica - Jamaica Merrick Boulevard Queens Boulevard $35-$50 Junction Boulevard 39th Street Queens Boulevard $50-$65 Kissena Boulevard 71st nue Parsons Boulevard $35-$50 Main Street - Flushing Northern Boulevard Cherry nue $65-$80 Metropolitian nue 69th nue 74th nue $50-$65 Myrtle nue DeKalb nue Cooper nue $25-$50 Northern Boulevard Francis Lewis Boulevard Utopia Parkway $35-$50 Northern Boulevard Utopia Parkway 162nd Street $25-$35 Northern Boulevard 162nd Street Parsons Boulevard $35-$50 Queens Blvd - Elmhurst Grand nue 63rd Road $25-$35 Queens Blvd - Rego Park 68th nue 71st nue $65-$80 Queens Blvd - Sunnyside Van Dam Street 48th Street $25-$35 Queens Crossing Mall $25-$35 Roosevelt nue Broadway 91st Street $65-$80 Steinway Street Astoria Boulevard 33rd nue $50-$65 Sutphin nue 89th Street Archer nue $25-$35
11 Queens 20th Bay Terrace Mall 31st St Ditmars 30th 36th Steinway St Astoria Blvd Queens Crossing Mall Broadway Queens Blvd Sunnyside Greenpoint Fresh Meadows Mall Roosevelt Queens Blvd Elmhurst Queens Blvd Rego Park Austin St Fresh Pond Rd Myrtle Bell Blvd Main St Flushing Junction Blvd 37th Northern Blvd Kissena Blvd Continental Hillside Metropolitan Sutphin Jamaica Woodhaven Jamaica Jamaica CPEX 2010 Retail Report Crossbay Blvd Legend $20 - $25 $25 - $35 $35 - $50 $50 - $65 $65 - $80 $80 - $100 > $100
12 Staten Island Retail Corridors Street Start End $/SqFt Amboy Rd - Eltingville Armstrong Preston $30-$40 Amboy Rd - Pleasant Plains Bedell St Amboy Rd $30-$40 Arthur Kill Rd Richmond Armstrong $30-$40 Bay St Victory Blvd Willow $20-$30 Bay St Willow Fingerboard Rd $30-$40 Forest - Graniteville South Van Pelt $30-$60 Forest - Westerleigh Richmond Jewett $40-$60 Forest - West Brighton Broadway Hart Blvd $30-$40 Hylan Blvd - Great Kills Nelson Armstrong $20-$30 Hylan Blvd - New Dorp Tysens Lane New Dorp Lane $40-$60 Hylan Blvd - New Dorp New Dorp Lane Locust $30-$40 Hylan Blvd - Dongan Hills Locust Greeley $20-$30 Hylan Blvd - Dongan Hills Greeley Old Town Rd $30-$60 Hylan Blvd - Grasmere Old Town Rd Steuben St $20-$30 New Dorp Lane Hylan Blvd Richmond Rd $30-$40 Page Amboy Rd Route 440 $30-$60 Port Richmond Richmond Terrace Palmer $10-$20 Port Richmond Palmer Forest $20-$30 Richmond - Bulls Head Christopher Lane Victory Blvd $30-$40 Richmond Victory Blvd Travis $40-$60 Richmond - New Springville Travis Richmond Hill Rd $40-$60 Richmond - New Springville Richmond Hill Rd Forest Hill Rd $30-$40 Richmond - Staten Island Mall $60-$80+ Richmond - Eltingville Oakdale St Wilson $20-$40 Richmond Rd - Dongan Hills Stobe Raritan $20-$30 Veterans Rd West - Charleston Arthur Kill Rd Tyrellan $40-$60 Victory Blvd - Bulls Head Richmond Arlene St $40-$60 Victory Blvd - St. George Bay St Fremont St $30-$40 Victory Blvd Fremont St Forest $20-$30 Victory Blvd Todt Hill Rd Wolley $30-$40
13 Staten Island Victory Blvd Port Richmond Forest Bay St Forest Forest Victory Blvd Victory Blvd Richmond Richmond Rd New Dorp Lane Arthur Kill Rd Richmond Eltingville Hylan Blvd Amboy Rd Eltingville Hylan Blvd Eltingville Veterans Rd CPEX 2010 Retail Report Amboy Rd Pleasant Plains Legend Page $10 - $20 $20 - $30 $30 - $40 $40 - $60 $60 - $80+
14 Overview of CPEX Services CPEX has a unique ability to provide a full range of services exclusively for commercial real estate owners, property managers, institutions, government agencies, non-profit organizations and business owners. These services include: Leasing Retail Office Industrial Creative Space Community Use Institutional Land/Ground Communication Services Investment Sales & Capital Market Sales Office Multi-Family Mixed-Use (Residential/Commercial) Retail Development/Conversion Hotel Industrial Community Use Business Service Business Evaluations Private Business Sales and Advisory Advisory Services Strategic Operating Analysis Review Real Estate Acquisition and Disposition Facilities Management Project Management Evaluations/Appraisals Bank Appraisals Private Evaluation Feasibility Studies Finance Mortgages Re-Finance Management Services Construction Management Property Management Business Relocations Business Relocations Business Feasibility Studies Technology and Energy Consulting Security Valuation and Dispute Resolutions Expert Witness Testimony Estate Evaluation Asset Inventory Real Estate Bankruptcy Work-Outs Facilities Management Building Services Space Decommissions
15 Terms of Use The CPEX 2010 NYC Retail Report, Copyright ( ) 2010, is compiled and tabulated for our clients use. Others may receive copies upon request. It is produced by the Research Department of. Please address all Retail Report correspondence, including requests to reproduce any portion of the report to: Ira Krivit, Director of Research,, Methodology Great care was taken to collect, synthesize, collate and summarize the various data compiled into this document. This report is a compilation of multiple sources which were merged into a consistent format. Acknowledgement CPEX would like to thank and acknowledge those external data sources which were most helpful, including: Win2Data from First American Core Logic, PropertyShark.com, Business Improvement Districts (BID s) as identified by the NYC Department of Small Business Services, the NYC Department of Finance s Rolling Sales Data, NYC Economic Development Corp., the Brooklyn Chamber of Commerce and the Greater New York Chamber of Commerce. We thank them all for their information and various support in helping us build this unique document. Disclaimer & Copyright Notice All information contained herein was provided by or obtained from various sources that we deem reliable. Though we have no reason to doubt the validity of the information, we do not warrant any information disclosed. This document s Copyright is held by and owned by. Feel free to quote from this report or to link to the digital version and other research materials on our site, but reproduction of this material in any form is forbidden without the express written permission of CPEX. Intellectual property rights in this material are held by the authors and/or CPEX. All rights are reserved.
16 350 Livingston Street, 1 st Floor Brooklyn, New York Tel: Fax: New York New Jersey - Florida
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