FWDREFORWARD REAL ESTATE ADVISORY

    FWDRE · Methodology

    How FWDRE measures Manhattan retail

    Every number FWDRE publishes is dated, sourced, and reproducible. This page is the standing description of how the measurement works — what we track, how a verdict is earned, how accuracy is audited, and what we refuse to claim. If a claim on this page and a figure in a report ever disagree, the report's printed as-of date governs, and we want to hear about it.

    Re-measuring
    Accuracy figure withdrawn pending recalibration
    prior status-only audit shown below · identity accuracy never measured
    3
    Independent refresh axes
    municipal · field · registry
    ~90%
    Status verdicts re-resolved within 48 hours
    as of Jul 2026
    01

    What we track, and how often

    FWDRE maintains live status verdicts for Manhattan storefronts, fused from tens of thousands of retail-location records — the live, per-neighborhood counts on our neighborhood pages refresh nightly. No single feed is trusted on its own — every verdict is fused from three refresh axes that fail independently, so a blind spot in one cannot silently become a blind spot in the answer.

    Daily · municipal

    The city's paper trail, pulled every day: DOHMH inspections, DCWP/DCA licenses, SLA liquor licenses, 311 activity, and LL157 storefront-registry filings.

    ~90 days · field

    A rolling direct-observation cycle at the storefront level — the only class of evidence allowed to declare a storefront dead.

    Monthly · registry

    The Foursquare closure registry, cross-checked as an independent third opinion.

    When new evidence lands on any axis, the affected verdicts recompute: roughly 90% of status verdicts have been re-resolved within the last 48 hours. as of Jul 2026

    02

    The three-tier truth doctrine

    Most data vendors force every storefront into open or closed. We don't. Every FWDRE verdict lives in one of three tiers, and the third tier is the one that keeps the other two honest.

    verified-open

    Current, dated proof of operation on at least one axis.

    verified-closed

    Two or more independent sources agreeing — including a direct observation.

    honestly-unknown

    Evidence is stale or conflicting. We say so instead of guessing.

    • A closure verdict must be earned. "Closed" requires two or more independent sources, one of which must be a direct observation of the storefront. Paper evidence alone can never kill a business in our data.
    • Absence of evidence is not evidence of death. A lapsed license is a question, not a verdict — plenty of real, operating businesses leave no fresh paper trail.
    • Every signal carries its real evidence date. The inspection date, the license expiry, the observation timestamp — never the date we happened to ingest it. Old facts are never dressed up as fresh ones.
    03

    The liveness-decay model

    Evidence ages. A health inspection from last week says more about a restaurant than one from last year, and different kinds of evidence go stale at different speeds. So every signal in the fusion carries a weight that decays on a half-life set by its category — fast for momentary signals, slow for annually-renewed ones.

    • Fresh on any axis reads open. One current, dated proof of operation is enough.
    • A hard negative outranks a stale positive. When every axis has gone stale and a direct negative observation arrives, the negative wins — even against a lingering "open" from a lagging commercial feed.
    • Nothing fresh, nothing decisive — honestly-unknown. The model is built to withhold credit, not to manufacture certainty.
    weight(signal) = 2 ^ ( - age_days / half_life[category] )
    
    verdict:
      open     — any axis fresh: dated, current proof of operation
      closed   — 2+ independent negatives, incl. a direct observation
      unknown  — everything stale, nothing decisive

    The formula class is public and the fitted parameters in force — category half-lives and thresholds — are printed in every report. Nothing in the verdict path is a black box.

    04

    Calibration — and why we publish bands

    Withdrawn — recalibration underway

    We previously led with a single accuracy percentage. It did not survive our own scrutiny, so we pulled it rather than defend it. What the July 2026 audit actually measured: 65 of 79 decided status calls agreed with independent web review, in a deliberately class-balanced 100-record sample — not a representative slice of the live population. 21 abstentions were excluded. Identity was never tested: whether we had the right business at the right door was outside its scope, as were storefront occupancy and space availability. Presenting that as "four in five hold" overstated it.

    The next calibration will publish four figures together — identity precision, identity coverage, status accuracy conditional on correct identity, and abstention rate — with false-open and false-closed rates shown separately.

    Historical status calibration · July 6, 2026 · 65/79 decided · Wilson 95% CI 72.4–89.1% · status axis only

    We print the interval, not just the point — an honest range beats a flattering number. The audit re-runs on an ongoing cadence (25 storefronts July 1 → 100 storefronts July 6; the hard “closed” tier ran 20-for-20 in the latest pass), and the current figure with its interval is printed in every report. It is also backed operationally: any status call a client disputes is re-verified against live sources within 48 hours, free.

    The same honesty applies to the closure rate itself. Closures are structurally undercounted — a storefront can go dark months before any paper trail catches up. A single point estimate would flatter us, so FWDRE publishes closure as a band between a hard floor and a soft ceiling:

    0%12%
    0.47% hard floor — verified closures only9.47% soft ceiling — includes single-source signals

    Manhattan closure band · share of status-carrying storefronts · as of Jul 1, 2026

    Hard floorCounts only closures that cleared the two-source bar. It can be too low; it cannot be too high.
    Soft ceilingAdds every single-source closure signal — everything that might be a closure but hasn't earned the verdict.
    Error directionKnown and disclosed: closure undercount. The truth sits inside the band, most likely above the floor.
    05

    The source ledger

    Every input, its refresh cadence, and the exact role it is allowed to play. Sources earn specific jobs — none of them gets to answer questions outside its competence.

    Source Dataset / type Cadence Role
    NYC DOHMH restaurant inspections 43nn-pn8j Daily Liveness axis — an inspection is dated proof a storefront was operating
    NYC DCWP / DCA business licenses NYC Open Data Daily Liveness axis — license issuance, renewal, and lapse activity
    NYC DOB permits & filings NYC Open Data Daily Buildout signals — renovation, turnover prep, capital investment
    NYC 311 service requests NYC Open Data Daily Activity signals at the storefront address
    NYC Storefront Registry (LL157) 92iy-9c3n Annual filings Vacancy, lease expiry, turnover — self-filed; carries no rent or square footage
    NY State Liquor Authority active + pending Daily Liveness + pipeline — a pending license flags an opening before it happens
    US Census / ACS federal Annual vintages Demographics and trade-area context
    MTA subway ridership hourly profiles Periodic refresh Footfall proxy by daypart — station-level, always labeled a proxy
    NYC PLUTO city releases Per release Tax-lot ground truth — building, zoning, ownership
    REBNY published benchmarks published Semiannual Corridor asking-rent benchmarks — asking figures, never "closed comps"
    Overture Maps open data Monthly releases Open identity layer — who is where, with contact details
    Foursquare OS Places open data Monthly releases Identity supplement + independent closure registry (used with attribution)
    Google business status rented signal On verification Input-only — a lagging signal into fusion; never the foundation, never redisplayed

    Identity data includes Overture Maps Foundation data and Foursquare Open Source Places, used under their open licenses with attribution. Google is a rented, lagging signal used as an input to fusion only — it is never stored as the foundation and never redisplayed. LL157 registry filings are self-reported and carry neither rent nor square footage; we use them strictly for vacancy, lease-expiry, and turnover evidence. Distances in FWDRE reports are shown in feet and miles (US commercial-real-estate convention) but computed in meters from coordinates; method and source lines print the metric figure once alongside, so every distance stays reproducible.

    06

    What we don't claim

    • No 100% accuracy. Nobody measuring the physical city has it, including us. What we offer instead is a published error rate, its confidence interval, and the direction it errs.
    • Listings are not availability. A listing is marketing; availability is a fact about a lease. We never infer one from the other.
    • Candidate "leads" are evidence flags, not verified listings. When we surface a space as a likely opportunity, we show the evidence and its dates — we do not represent it as on the market.
    • Coverage is Manhattan today. Brooklyn is in progress. Outer-borough registry data exists in our pipeline, but it has not yet met the verification bar this page describes — so we don't sell it as if it had.
    07

    Corrections policy

    If you believe a figure is wrong, tell us. Disputes are logged, the underlying evidence is re-pulled, and the outcome — a correction or a published errata note — is attached to the affected report.

    Acknowledge the disputewithin 24 hours
    Correct, or publish erratawithin 72 hours
    hello@fwdre.com

    Figures on this page current as of July 2026 · each carries its own as-of date