SoHo Broadway 2023 Retail Occupancy Report

SoHo Broadway Retail: Positive trends and new businesses highlight district’s continued appeal to retail market

Over the course of 2023, retail occupancy in the SoHo Broadway district significantly increased. The district ended the year with an 84% retail occupancy rate, a 7 percentage point increase from the end of 2022.

Trends

• Significant increase in retail occupancy rates.
• Exceeded pre-pandemic occupancy rates.
• Ended 2023 with a vacancy rate of 16%, significantly lower than 2022 Q4’s vacancy rate of 23%.
• Compared to 2022, there was an increase in number of stores that opened (28 in 2023; 22 in 2022), and a decrease in number of stores that departed (16 in 2023; 20 in 2022).

Stores that opened during 2023

An additional three storefronts have been leased to retail businesses that are coming soon: Arc’teryx, Capital One Cafe, and H&M.

We hope to see these positive trends continue during 2024.

A PDF version of this report can be accessed here.