{"id":367971,"date":"2026-10-08T16:32:08","date_gmt":"2026-10-08T16:32:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/367971\/"},"modified":"2026-10-08T16:32:08","modified_gmt":"2026-10-08T16:32:08","slug":"banks-squeeze-into-manhattans-tightest-retail-market-on-record-news","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/367971\/","title":{"rendered":"Banks squeeze into Manhattan\u2019s tightest retail market on record | News"},"content":{"rendered":"<p>As availability in Manhattan\u2019s prime retail market hits a record low, bank branches and financial institutions have emerged as major contributors to shrinking supply.<\/p>\n<p>In its third-quarter \u201cManhattan Retail Report,\u201d JLL puts average availability across Manhattan\u2019s prime retail corridors at 11.4 percent, the lowest since tracking began in 2017. Just 157 spaces remain available \u2014 38 fewer than a year ago \u2014 while average asking rents reached $605 per square foot, up 5.7 percent year over year.<\/p>\n<p>The report identifies increased bank activity as one of the major contributors to declining availability. Recent signings include Bank of America\u2019s 16,309-square-foot lease at 19 Union Square West, OceanFirst\u2019s 4,100-square-foot lease at 36 Union Square East and Citibank\u2019s 14,274-square-foot lease at 170 West 72nd St. \u2014 nearly 35,000 square feet combined, with additional transactions pending in the category.<\/p>\n<p>\u201cAvailability across the prime retail corridors                        <\/p>\n","protected":false},"excerpt":{"rendered":"As availability in Manhattan\u2019s prime retail market hits a record low, bank branches and financial institutions have emerged&hellip;\n","protected":false},"author":2,"featured_media":367972,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[75,84,83,9,24,63],"class_list":["post-367971","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-manhattan","tag-manhattan-headlines","tag-manhattan-news","tag-new-york","tag-new-york-city","tag-nyc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/367971","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=367971"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/367971\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/367972"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=367971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=367971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=367971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}