Retail vacancy rates in New York’s SoHo neighborhood have plummeted to unprecedented levels, reflecting a severe shortage of available commercial space. The tight market is driven by surging demand from a mix of high-end retailers and office-to-residential conversions, which have reduced supply. With rents climbing and landlords reluctant to leave units empty, tenants face fierce competition for limited listings. Analysts warn the trend could signal broader shifts in the city’s retail and real estate landscape.
News | Retail availability in New York’s SoHo hits record low CoStar
