Manhattan landlords resorting to tenant freebies

New York

MANHATTAN landlords, who have seen retail occupancy plummet after boosting rents to record levels, are trying to avoid big price cuts. Instead, they're writing cheques for things like interior redesigns and moving expenses to keep storefronts from going empty.

Tenant-improvement allowances haven't been typical in the Manhattan retail market. But now the concessions, which can pa…