Cushman & Wakefield: New York’s Upper Fifth Avenue Ranked World’s Most Expensive Retail Street

by Katie Sloan

New York City — New York’s Upper Fifth Avenue is the most expensive retail street in the world with rents rising to $3,500-per-square-foot in 2015, according to the Main Streets Across the World report by Cushman & Wakefield.

Rents on Upper Fifth Avenue are nearly 50 percent higher than second place Causeway Bay in Hong Kong. The report tracks over 500 of the top retail streets around the globe, ranking them by their prime rental value utilizing Cushman & Wakefield’s proprietary data.

The current, 27th edition of the report shows that rents have risen in 35 percent of streets around the world. The Top 10 following Fifth Avenue and Causeway Bay include the Avenue des Champs Élysées in Paris; New Bond Street in London; Via Montenapoleone in Milan; Bahnhofstrasse in Zurich; The Ginza in Tokyo; Myeongdong in Seoul; Kohlmarket in Vienna; and Kaufinger/Neuhauser in Munich.

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