The retail scene on Third Avenue north of Bloomingdale’s appears to be on the upswing, which spells good news for Upper East Siders and for the Manhattan store-leasing scene in general.
Availability as high as 25.9% between 59th and 79th streets at the end of 2020 has gradually dipped to 8.4%, according to Cushman & Wakefield leasing powerhouse Steven Soutendijk. “That is s very low, and almost all of that available space is around Bloomingdale’s, like the Home Depot space,” he said.
Asking rents range from $150 per square foot to $400, Soutendijk said, but the average ask is $246 per square feet.
Bloomingdale’s at 1000 Third Ave. Google Maps
Although the mile-long Third Avenue corridor enjoys none of the prestige of Madison Avenue, it’s meaningful as a barometer of the economic health of one of Manhattan’s most stable middle-class neighborhoods. “Its consistency and strong demographic base continue to attract