While economic uncertainty loomed, consumer spending in the first quarter of 2024 remained robust for retail goods. Retail sales in the US rose 0.7% in March to $709.6 billion, and total sales for Q1 2024 were up 2.1% from the same period a year ago. The National Retail Federation expects retail sales to reach between $5.23 trillion and $5.28 trillion this year. The 2024 forecast is roughly in line with the 10-year pre-pandemic average annual…
2023 NYC Retail Overview
Despite economic headwinds, consumer demand for retail goods remained robust through the first quarter of 2023. National retail sales (including food services) totaled a seasonally adjusted $2,063 billion in Q1 2023, up 4.9% from the prior year and surpassing Q1 2019’s level of $1,509 billion by 36.7%. Food and beverage sales accounted for 12.8% of total retail spending, on par with pre-pandemic levels. Read the complete overview here: 2023 NYC Retail Overview
119 SPRING STREET LEASED TO LUXURY RETAILER PHILLIP PLEIN BY LEE NYC’S PAUL POPKIN & JESSICA GERSTEIN
March 13, 2023 (New York, NY) – Lee & Associates, the largest broker-owned commercial real estate firm in North America, announces 119 SPRING STREET LEASED TO LUXURY RETAILER Philip Plein’s BY LEE NYC’S PAUL POPKIN & JESSICA GERSTEIN See the story covered in Crain’s, New York Business Journal, and Connect CRE. ### MEDIA CONTACT First Last Lee & Associates (000) 000-0000 email@lee-associates.com
119 Spring Street Leased to luxury retailer Phillip Plein by Lee NYC’s Paul Popkin & Jessica Gerstein
See the story covered in Crain’s, New York Business Journal, and Connect CRE.
Peter Braus Discusses NYC Retail at Bisnow’s Retail Summit
Click here for the full article on the discussion of landlord and tenant creativity alongside lender hesitancy at the Bisnow Retail Summit in April.
Lee NYC Awarded Exclusive Retail Agency for Queens’s Promenade Shops at LeFrak City
Mark Kapnick, Executive Vice President/Principal, Bradley Diamond, Managing Director, and Elliot Diamond, Director, of Lee & Associates NYC LLC (“Lee NYC”) have been named the exclusive agents for 15,000-plus square feet of retail space at the Promenade Shops at LeFrak City, on 99th Street between 57th Avenue and Horace Harding Expressway in Queens. Click here to read more.