If the rising taxes and complete loss of law and order in the midst of a global pandemic wasn’t enough to drive you out of New York City, perhaps complete apocalypse on the city’s iconic Broadway will do it.
A stunning new report shows that more than 300 storefronts are now vacant along Broadway. It marks a 78% increase from three years ago. More than 33% of those vacancies were located between 14th and 59th streets, in the heart of Manhattan.
The tally was calculated by Manhattan Borough President Gale Brewer and her staff in late August while visiting 13 miles and 244 blocks, according to the Wall Street Journal. Her staff was able to count 39 empty storefronts between 96th and 125th street, 66 empty spots between 59th and 96th street and 43 vacancies below 14th street.
42 stores were boarded up – though some were open for business.
Brewer commented: “The rent is so high, particularly on Broadway in Manhattan, that it’s hard for the small shops to make a go of it. At this point, with the gates down and sometimes plywood on the storefront, you don’t know whether it’s going to be rented.”
Marilyn Jacques, a wholesaler of imported lace and tulle from France, who has a company off Broadway near West 36th Street, commented: “It’s not only Broadway, it’s also all the side streets. Retail is in terrible trouble, we all know that. But now, when you’re working from home, you don’t need 25 pairs of leggings.” – READ MORE
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