UWS Broadway Stretch Has 3rd Most Vacancies In Manhattan: Report

UPPER WEST SIDE, NY — A stretch of the Upper West Side has the third highest number of storefront vacancies in Manhattan, a new report found

The Upper West Side storefront vacancy issue, especially on Broadway, was a major talking point in the 2021 City Council primary, and the report shows the neighborhood still has a lopsided issue with vacancies in the second quarter of 2021.

First reported on by ILoveTheUpperWestSide, the Coldwell Banker Richard Ellis Group (CBRE), the largest commercial real estate services company in the world, recently published a study analyzing storefront vacancies in Manhattan that highlights stretches of blocks in the borough with the most empty stores.

Out of the 16 Manhattan street corridors the CBRE looked at, a stretch of Broadway from West 72nd to 86th Streets on the Upper West Side has the third most ground floor storefront vacancies.

The average price per square foot from 72nd to 86th Street on Broadway was $229, a slight uptick from the $221 average during the first quarter of 2021. The price is also up 5.8 percent from last year.

Here are the five Manhattan corridors that had the most vacancies in the second quarter of 2021, according to the report:

1. Madison Avenue | 57th to 72nd Streets: 55 vacancies
2. Broadway | Battery Park to Chambers: 27 vacancies
3. Broadway | 72nd to 86th Streets: 25 vacancies
4. Broadway | Houston to Broome Streets: 24 vacancies
5. Fifth Avenue | 14th to 23rd Streets: 22 vacancies

While a stretch of the Upper West Side had the third most vacancies in the borough, the neighborhood also had the third most number of leases signed for vacant storefronts during the period. Seven leases were signed on the UWS amounting to 24,114 square feet of store space getting inhabited in the community during the second quarter of 2021.

The biggest deal to take place on the UWS during the period was a CityMD at 1865 Broadway.

In October 2020, a count carried out by Patch found 57 vacant storefronts on Broadway from West 68th to 98th Streets.

Read More: Broadway In Crisis: 57 Shops Stand Empty On Just 30 UWS Blocks