Retailers Abandoning NYC at Alarming Rate

Retail Chains Abandon Manhattan: It’s Unsustainable – “There’s no reason to do business in New York,” Mr. Weinstein said. “I can do the same volume in Florida in the same square feet as I would have in New York, with my expenses being much less. The idea was that branding and locations were important, but the expense of being in this city has overtaken the marketing group that says you have to be there.” Nice work Cuomo/DeBlasio

https://www.nytimes.com/2020/08/11/nyregion/nyc-economy-chain-stores.html

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