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Article: Fifth Avenue deemed "most expensive" in the world.(Retail)
- Article from:
- Real Estate Weekly
- Article date:
- November 3, 2004
CopyrightCOPYRIGHT 2004 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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New York's Fifth Avenue is the world's most expensive shopping street, according to Main Streets Across the World, an annual report published by Cushman & Wakefield.
Shops located on Fifth Avenue between 50th and 59th Streets can expect to pay an average rent of $950 per s/ f for ground floor retail units. And that is before service charges, local taxes and other fit-out costs.
Main Streets Across the World 2004 tracks retail rents in the world's top 229 shopping locations. The report's global table is drawn up by taking the most expensive location in each of the countries studied. In second position is the Avenue des Champs Elysees in Paris, followed ...