According to the New York Times, it’s generally agreed that a five percent vacancy rate is a healthy level for a busy retail corridor. Larisa Ortiz, a commercial revitalization consultant says anything under 10 percent is acceptable. A number of recent studies have found retail corridors in prosperous Manhattan neighborhoods struggling with much higher rates, from 14 percent on Columbus in the Upper West Side to 20 percent on Broadway in SoHo.
currently sitting at 3-4 times the healthy rate.......................