The Meatpacking District
JLL, Large Share of Notable Retail Leases Land in Midtown.
Record-level asking rents between 42nd to 59th Streets on Fifth Avenue ranging from $860 to $3,500 per square foot have led to a 3.1 percent increase of available space on the high street corridor from the same period last year.
Meanwhile, leasing activity for larger retail space in prime submarkets was predominately driven by tenant relocation in existing neighborhoods and large-size discount retailers.
After a strong year in 2014, the Meatpacking District saw a drop-off in notable leasing activity in 2015 due to high rents, despite a continual increase of visitors to the High Line.