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Manhattan Retail Rebound Pressured by Supply Chains, Staffing

Tenants facing a labor crunch and backed-up equipment orders are delaying new deals and openings.

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U.S. April existing home sales fall

Supply chain snarls and labor shortages threaten to impede the rebound in Manhattan’s retail market as the sector slowly bounces back following two years of moribund activity. 

Some tenants have had to delay opening spaces due to challenges in obtaining equipment and staff, while others have had to wait for inspections and permits, according to a report Friday by the Real Estate Board of New York. Landlords “remain open” to creative ways to lure in more tenants even as they let up on the most aggressive incentives once offered to fill space during the pandemic, the trade group said.