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Retail bank branches expand as Manhattan prime availability hits record low

JLL estimates prime Manhattan retail corridor availability at 11.4%, the lowest since it began tracking in 2017.

Reported · Written up by our desk · Commercial

ConnectCRE reports that as availability in Manhattan’s prime retail market fell to a new record low, retail bank branches and other financial institutions have become a growing source of demand. The outlet cited a JLL finding from the Manhattan Retail Report for the third quarter of 2026.

According to JLL, average availability across Manhattan’s prime retail corridors was 11.4%, the lowest since the firm began tracking the metric in 2017. The report also points to increased bank activity as one of the contributors to the decline in available space.

ConnectCRE also highlights recent bank commitments in the borough, including Bank of America taking 16,309 square feet at 19 Union Square West, OceanFirst leasing 4,100 square feet at 36 Union Square East, and Citibank committing to 14,274 square feet at 170 W. 72nd St.

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