North America

Rental growth on New York’s shopping streets

The city’s famous Fifth Avenue might have most expensive rents and most exclusive shops, but it has not experienced the biggest rental growth among New York’s shopping streets

Last year New York’s Fifth Avenue was named the most expensive shopping street in the world. Home to luxury shops including Bergdorf Goodman, Barneys and Henri Bendel, rents here are hovering at an average of $2,238 per square foot per year.

This spring a report by the Real Estate board of New York revealed that rents on the street were up by 4% compared with spring 2014…

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