Home renters and businesses of all sizes are feeling the squeeze of soaring rents across the United States’ largest metropolitan areas.
Ecommerce has long been ascribed as the killer of brick-and-mortar retail, but the price of staying in business is also contributing to closures across the country. Menswear retailer Barneys recently had annual rent raised by more than $11 million on its Manhattan flagship location and has been forced to consider several options to cut back costs.
Steven Kalifowitz, President of Localize.City, a software technology startup that uses AI to give prospective home renters and buyers a wealth of high-level data insights, has followed the volatile New York City real estate scene.
“A place like Barneys can get really squeezed because a landlord wants high rent and because so many of these landlords have been here for so long, they don’t mind keeping a store empty for a certain time until they can get the right price.” Kalifowitz said. “The landlords in New York City are less concerned about month-to-month income when they can get such a big jump from someone else. And they have the cashflow to wait.”
Also contributing to the increase in rent prices is an imbalance of access to information on properties between landlords and renters.
“Until now, there’s been a large asymmetry of information. The people who own properties know a lot more than those who don’t. With that asymmetry going away, it’s changing how people are able to find properties and negotiate them,” Kalifowitz said.
Technology may be giving power back to buyers, but retailers are still at the moment fighting a two-front war against ecommerce competitors and leverage-holding landlords.
For the latest news, videos, and podcasts in the Retail Industry, be sure to subscribe to our industry publication.
Follow us on social media for the latest updates in B2B!
Twitter – @RetailMKSL
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale
Hospitals across the country are feeling the strain—too many open roles, not enough trained professionals, and a growing gap between what students learn and what the job actually demands on day one. Training is getting more expensive, timelines are stretching, and healthcare leaders are being forced to rethink how new clinicians enter the field….
Cybersecurity is no longer a concern reserved for large enterprises—it has become a defining issue for businesses of every size. Over the past decade, the rapid rise of cloud computing, artificial intelligence, and cryptocurrency has fundamentally reshaped the threat landscape, lowering the barrier to entry for cybercriminals and expanding the range of viable targets….
In an era where precision manufacturing often hides behind the simplicity of everyday products, the world of rubber components offers a striking reminder that complexity frequently lives beneath the surface. What appears to be a modest gasket or sealing element is, in reality, the product of highly specialized engineering, rigorous testing, and an…
Manufacturing excellence today is less about scale alone and more about precision, control, and adaptability—especially in industries where even microscopic inconsistencies can have outsized consequences. As global supply chains grow more complex and regulatory standards tighten, facilities that invest in specialized processes and contamination control are quietly becoming the backbone of innovation. Segregated…
For many retail brands, growth today isn’t just about innovation — it’s about keeping pace with customers whose expectations are evolving in real time, led by younger generations who expect brands to reflect their values and show up with cultural relevance. In fact, recent research from MG2 found that the overwhelming majority of Gen Z…
Gen Alpha’s coming of age is reshaping retail, with children playing a more visible role in purchase decisions through early preferences around color, comfort, and self-expression. Research continues to show that kids increasingly influence household purchases, especially in apparel and lifestyle categories, pushing brands to rethink how early identity, confidence, and joy are designed…
