In February, downtown NYC experienced a notable surge in pedestrian traffic, with a 2.3% increase compared to January and a 1.5% year-over-year growth, according to data from Real Estate Software. The rise was largely driven by an impressive 6.1% increase in evening activity and weekend foot traffic saw an even higher year-over-year growth of 5%. However, there was a slight decline of -4.4% year over year and -5.6% week over week during the third week after the Super Bowl.
Despite not meeting historical trends for month-over-month growth rates, downtown activity remained resilient throughout February with Valentine’s Day providing a brief boost but overall momentum fluctuating during the week until seeing an uptick of +5/4%, making Wednesdays the busiest day.
Annual levels for pedestrian traffic have stabilized indicating that NYC is entering into post-pandemic recovery phase with promising prospects for retail hubs as seen through significant annual increases in weekend foot traffic levels.
