Why is Booming Fifth Avenue Really Lagging Fifth Avenue?

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.

Here is the C&W splash page with a summary, and here is a direct link to the 38-page report covering 51 countries.

And here is the top 10:

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