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NYC Retail Market Struggles with 13.7% Vacancy Rate

1/13/2026

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Summary

Story summary

In January 2026, New York City's retail leasing market faces challenges despite recovery claims, with JLL citing a 13.7% vacancy rate.
Critics say many storefronts remain empty, particularly on Fifth Avenue and in FiDi.
The largest 2025 leases were nontraditional uses, such as fitness clubs and restaurants, with only one actual store renewal.
The closure of major chains, including H&M and Staples, raises concerns about the market's future.

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Story summary

In January 2026, New York City's retail leasing market faces challenges despite recovery claims, with JLL citing a 13.7% vacancy rate.
Critics say many storefronts remain empty, particularly on Fifth Avenue and in FiDi.
The largest 2025 leases were nontraditional uses, such as fitness clubs and restaurants, with only one actual store renewal.
The closure of major chains, including H&M and Staples, raises concerns about the market's future.