- Posted at 5:56, November 13, 2013
- By Russ Bleemer
The Fifth Avenue retail corridor is as hot a spot as there is in New York--just today, SL Green renewed Prada's flagship until 2028, and the luxury store wasn't even up for a new lease for four more years.
But that's only good enough to be No. 2, for the second year in a row.
Cushman & Wakefield's 2013-14 edition of the always-attention-getting "Main Streets Across The World" emerged today, with our own Fifth Avenue behind Hong Kong's Causeway Bay.
Fifth Avenue rents were flat at $2,500 per square foot, well behind the Hong Kong rate of $3,017--the first time in the survey's 25-year-history the $3,000-per-sq-ft mark had been exceeded.
Meantime, creeping up into the third place was Paris's Champ Elysees, where rents increased nearly 40% since last year.
And here is the top 10: