Study: Manhattan’s Fifth Avenue is most expensive retail street in the world


Study: Manhattan’s Fifth Avenue is most expensive retail street in the world


A new report ranks the top retail districts across 92 cities around the world and ranks the most expensive by prime rental value.

With an average rent of $2,000 per square foot, Upper Fifth Avenue (49th St. to 60th Streets) in Manhattan took the top spot as the most expensive retail corridor in the world, according to real estate services firm Cushman & Wakefield’s annual “Main Streets Across the World” report.

Tsim Sha Tsui in Hong Kong came in second, at $1,436.00 per sq. ft., followed by the Via Montenapoleone in Milan, at $1,380. Rounding out the top five most expensive retail streets were London’s New Bond Street, at $1,361, and Avenues des Champs Elysees in Paris, at $1,050. (Via Montenapoleone and New Bond Street also ranked as the most expensive shopping streets in Europe, respectively.)...
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RSK: No surprises here, but what it does mean is the real estate values and rents are the highest.

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- - Volume: 10 - WEEK: 50 Date: 12/5/2022 9:49:44 AM -