SoHo Broadway Initiative
SoHo Broadway Initiative is one of the most dynamic shopping districts in the world, home to numerous flagship stores, including Prada, Zara, and Uniqlo. Yet rising vacancy has caused concern among Business Improvement District leaders. Recent market softening, coupled with landlord expectations for rent that have surpassed what the many retailers can support has resulted in the highest vacancy rate the district has seen in decades.
SoHo Broadway Initiative hired Larisa Ortiz Associates to develop baseline market data of the resident and worker population, as well as prepare what will become a yearly “State of SoHo” marketing profile for use by local property owners and brokers.