Chain Stores Shut Down Across Midtown In 2020, Report Finds

MIDTOWN MANHATTAN, NY — It is no secret that the coronavirus pandemic has posed an existential threat to New York's small businesses, but a new study shows that the crisis has also wiped out hundreds of retail chains across the city — including in Midtown.

All told, 137 national chain stores in Midtown closed this year, with all but a few small ZIP codes seeing a decline, according to the report released Wednesday by the Center for an Urban Future. More than 1,000 chain locations have closed around New York this year.

Here are the Midtown ZIP codes with the biggest drops in chain stores compared to last year:

• 10019 (Hell's Kitchen/Central Midtown): 125 chain stores, down from 153 in 2019 (18 percent drop)
• 10036 (Hell's Kitchen/Central Midtown): 120 chain stores, down from 142 (16 percent drop)
• 10022 (Midtown East): 114 chain stores, down from 148 (23 percent drop)
• 10017 (Midtown East): 98 chain stores, down from 124 (21 percent drop)
• 10018 (Hell's Kitchen/Central Midtown): 96 chain stores, down from 108 (11 percent drop)

Overall, the 13.3 percent citywide decline in the number of chain stores this year is by far the largest in the study's 13-year history. Manhattan saw the steepest losses, with its chains shrinking by 17.4 percent.

The chain with the most closures in New York this year was Metro PCS, which closed a whopping 134 locations — partly due to consolidation with its parent company T-Mobile. Dunkin' Donuts, the largest national chain in New York City, lost locations for the first time in the study's history.

The study was conducted between mid-November and early December, using information on each retailer's website about its open locations. About 2 percent of the closures it measured were temporary, while the rest were permanent.

In October, Patch found 57 retail vacancies along a stretch of Ninth Avenue in Hell's Kitchen — although many of the storefronts had formerly housed small businesses and been vacant for years.

"Among retail categories, all sectors were impacted by the decline in growth, with only three exceptions, home centers, wholesale clubs and jewelry and watches, which each saw a gain of just one store each," the report found.

Raed the full report here.

Related coverage: Vacancy Crisis: Empty Storefronts Cover Hell's Kitchen