Retailers in Midtown South were some of the hardest hit during the pandemic, with more than 450 storefronts closing, but now the area is bouncing back thanks to a retail leasing surge.<\/p>\n
That surge is due in part to the Midtown South Mixed-Use rezoning plan<\/a> passed last year. The development blueprint covers the area roughly from East 42nd Street to East 30th Street, and from Avenue of the Americas over to Eighth Avenue.<\/p>\n SEE ALSO: Le Colonial Plans Manhattan Return With 10K-SF Restaurant at 50 West 57th Street<\/a><\/p>\n Storefront vacancy in Midtown South has declined 19 percent over the past two years, outperforming Manhattan overall by 41 percent, according to a new report from Live XYZ, a mapping and analytics firm that shared its findings with Commercial Observer.<\/p>\n Momentum is strongest in the restaurant sector of Midtown South, which Live XYZ refers to as \u201c42Below,\u201d with 71 new openings and just 37 closings over the last two years, the report showed.\u00a0<\/p>\n Food and beverage as a whole \u2014 which also includes coffee and tea shops, dessert spots, and juice and smoothie bars \u2014 has grown twice as fast in Midtown South compared to the rest of Manhattan. The growth rate over the last two years was up 16.1 percent in Midtown South, versus just 6.7 percent for Manhattan.\u00a0<\/p>\n \u201cPeople are looking for the local economy to give them things that they can\u2019t just go buy on Amazon,\u201d Chris Bradicich, director of partnership and growth at Live XYZ, told Commercial Observer. \u201cThere\u2019s been a shift on an overall macro cycle in the local economy toward these more experiential businesses: food, drinks, entertainment, and other forms of experience.\u201d\u00a0<\/p>\n Some recent and upcoming food and beverage openings in the area include French restaurant Fauchon<\/a> at 2 Bryant Park, Japanese eatery Sushi 35 West<\/a> at 232 West 35th Street, and vegetarian outpost Olio E Piu<\/a> at 5 Bryant Park.\u00a0<\/p>\n Shaver Food Hall<\/a>, a 35,000-square-foot dining destination in the former Lord & Taylor building at 424-434 Fifth Avenue, will also open later this year. And Japanese restaurant Sora<\/a> is coming to the Midtown South area<\/a> at 1370 Broadway. \u00a0<\/p>\n In August 2025, a rezoning plan was adopted in Midtown South<\/a> that will allow for the creation of about 9,500 new homes \u2014 2,800 of which will be permanently affordable \u2014 in an area where residential development was previously not allowed.\u00a0<\/p>\n \u201cAs new residential developments come online and office conversions advance through the pipeline, retailers are taking space, renewing leases, and re-entering this area of Midtown with concepts designed to serve residents, workers, and visitors throughout the day and evening,\u201d Robin Abrams, vice chairman at Compass<\/a>, said in the report.<\/p>\n